Exclusive news and research on the wine, spirits and beer business

Wine Spectator: Napa’s Shafer Vineyards Sold to Korean Luxury Firm

February 17, 2022

In case you missed yesterday’s news alert, one of Napa’s iconic wineries is changing hands. Doug Shafer, president of Shafer Vineyards, announced that Shinsegae Property, a luxury brand firm based in Seoul, South Korea, with department stores, shopping centers, golf resorts, hotels, and other interests, has acquired his family’s winery.

While neither side disclosed details, the price tag is a reported $250 million. Shinsegae acquired the winery through its U.S. subsidiary Starfield Properties, lnc. Shafer winemaker Elias Fernandez and the core winemaking and vineyard staff will continue with the winery for the foreseeable future. The deal includes 225 acres of vines. Wine Spectator has the full story.

Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.

Tagged : , ,

GET YOUR FIRST LOOK AT 2021 DATA AND 2022 PROJECTIONS FOR THE WINE AND SPIRITS INDUSTRIES. ORDER YOUR 2022 IMPACT DATABANK REPORTS. CLICK HERE.

Previous :  Next :