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Foley Sees Several California Acquisitions Take Off

September 26, 2023

Known as a serial acquirer of California wine brands, billionaire Bill Foley has seen a number of his more recent plays bear fruit, including three Golden State labels that recently earned Impact “Hot Prospect” awards.

Last year, Foley acquired Napa Valley’s Silverado Vineyards from the Disney-Miller family for a price said to be north of $150 million. Silverado includes 300 acres of vineyards, including 100 acres in Napa’s Stags Leap District AVA (where the winery is located), 100 acres in Coombsville, and 100 acres in Yountville. Last year, the brand jumped 34% to 52,000 cases, according to Impact Databank, leveraging a portfolio that ranges from Miller Ranch Sauvignon Blanc, at around $25 a bottle, up through single-vineyard Cabernet Sauvignon expressions like Geo and Solo, the latter selling at around $125.

Foley Family CMO Jason Daniel told SND Silverado’s growth continues to be driven by its strong reputation for high-end wines, developed over four decades. “The majority of the portfolio is single vineyard wines, including Cabernet from the renowned Silverado Vineyard in the Stags Leap District,” he noted.

Two other Hot Prospect brands from the Foley portfolio are Banshee and Rickshaw, both of which Foley purchased in 2018. Banshee is known for Sonoma County wines retailing in the $22-$25 area, including Pinot Noir, Cabernet Sauvignon, Chardonnay, and Sauvignon Blanc. The brand soared 32% to 115,000 cases last year. Daniel noted that Banshee “has a youthful, modern, and fun brand personality that is backed by top scoring, elegant cool climate wines at approachable price points.”

Sister label Rickshaw jumped 30% to 73,000 cases. “Rickshaw, which is posting rapid growth, is made from 100% California Certified sustainably grown estate fruit,” said Daniel, adding that its brand proposition is to “produce everyday wines of casual sophistication that welcome young LDAs into premium wines.”—Danny Sullivan

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