Wine Spectator: French Wine Firm EPI Buys Majority Stake in Michael Mondavi’s FolioJuly 1, 2020
French luxury goods firm, EPI, signed a deal today to become a partner and controlling owner of Folio Fine Wine Partners, a Napa-based importer, marketing, and distribution company owned by Michael Mondavi and family. The price of the deal, which includes a 60 percent stake in the company but does not include Michael Mondavi Family wines, was not disclosed.
EPI, which is the holding company of the Descours family, owns numerous upscale brands including Piper-Heidsieck and Charles Heidsieck Champagnes and a significant stake in Italy’s Biondi-Santi. Folio has been the United States distributor for Charles Heidsieck for five years.
Paolo Battegazzore will continue as Folio CEO with his existing leadership team, while Damien Lafaurie, president of EPI’s wine and champagne division, will join Folio’s Board of Directors. “They essentially don’t want to make any changes to management,” Mondavi said. Wine Spectator has the full story.—Tim FishSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.