US: Foley Family Wines announces Kuleto Estate tie-up
Foley Family Wines has teamed up with Kuleto Estate in the US.
Bill Foley, owner of the Sonoma-based company, said yesterday (3 March) that Foley Family Wines (FFW) has secured a partnership agreement with Kuleto Estate, a Napa Valley winery owned by restaurateur, designer and vintner, Pat Kuleto.
FFW will acquire a controlling interest of the Kuleto brand and winery of around 22 acres. Kuleto will retain the remaining 700-acre property and provide grapes from the nearly 150-planted acres, as well as continue to be the "face of the brand", FFW said.
Financial details behind the agreement were not disclosed.
"This allows me to continue my involvement with the creative aspects of the winery," said Kuleto. "This union will also bring new resources to the property, ensuring that Kuleto Estate will remain a high quality Estate winery."
Bill Foley added: "The purchase greatly enhances the Foley Family Wines portfolio," said Bill Foley. "I look forward to the continued success of this remarkable property."
Based in Sonoma, California, family-owned Foley Family Wines began in 1996 with the founding of Lincourt Winery in Solvang, California. The other wineries and brands in the portfolio include Foley Estates Vineyard and Winery and Sebastiani Vineyards and Winery, which the company bought late last year.
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