Foley Family Wines has made its first purchase in the US state of Oregon, acquiring The Four Graces Winery and Vineyard.

The Healdsburg, California-based group, owned by US billionaire Bill Foley, has joined other wine companies in buying up property in the state, which is best known for its Pinot Noirs. Four Graces, which was established in 2003 by the Black family, has two vineyards in the Willamette Valley. It produces Pinot Noir, Pinot Blanc and Pinot Gris. 

Financial terms of the deal, announced yesterday (31 March), were not disclosed. 

Jackson Family Wines acquired its first vineyards in Oregon last year, while Burgundy negociant Maison Louis Jadot purchased Resonance Vineyard in the region

Robert Nicholson, a representative of M&A specialists International Wine Associates, which advised Four Graces on the deal, said: “With Foley's arrival in Oregon and interest from other large wine companies, Oregon is now attracting the attention of the global wine industry.”