The Sebastiani and Cuneo families have signed a deal to sell Sebastiani Vineyards to the Foley Wine Group.

Mary Ann Cuneo, CEO and grand-daughter of the winery's founder, Samuele Sebastiani, said of the sale: "We are confident that this transaction will strengthen Sebastiani's leading reputation as one of North America's premier producers of wine."

Credit Suisse Securities (US) acted as exclusive financial adviser and Sheppard, Mullin, Richter & Hampton LLP acted as legal advisor to Sebastiani Vineyards.

Financial details were not disclosed.