US: Jackson closes Legacy purchase
Jackson Family Wines has closed its acquisition of The Legacy Estate Group.
The US wine producer, owned by Jess Jackson and Barbara Banke, said yesterday (13 September) that the deal had been sealed, although financial details remain undisclosed.
"We are delighted to add these historic and prominent brands to our portfolio of family-owned wine estates," said Jackson.
"Our family has made wine in these three regions for years, and we are excited by the possibilities. I am confident these properties and their talented personnel will produce outstanding Freemark Abbey, Arrowood and Byron wines consistent with their well-established reputations."
The Legacy Estate Group is made up of Freemark Abbey, located in St. Helena in the Napa Valley, Arrowood Vineyards & Winery in Sonoma County's Glen Ellen and Byron Vineyard & Winery in the Santa Maria appellation of Santa Barbara County.
Jackson pipped the FAB Acquisition Co., a joint venture between the Huneeus family and Texas Pacific Group co-founder Bill Price, to the group at an auction last month. Although financial details were not released, it is thought Jackson bid US$97m at the auction.
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