Chateau Montelena has cancelled its sale to Reybier Investments in the US.

The Napa Valley-based winery said yesterday (6 November) that it has pulled out of the agreement with Reybier as the investment company, headed up by Michel Reybier, "has been unable to meet its obligations under its contract" with Montelena's owners, the Barrett family.

The winery has subsequently been pulled from the market.

"The process that just ended did not result in the outcome we or Mr. Reybier desired," said managing general partner, Jim Barrett.

"However, we find ourselves energised by the enthusiasm and vision expressed by all the parties who bid for ownership of Chateau Montelena. We now embark on a pursuit with which we are familiar and uniquely capable - to realise the full potential of this unique and special property."

Chateau Montelena was established in 1882, but had been largely abandoned when the Barrett family acquired it in 1972.