Market research
Foley Family Wines has added to its California footprint, lining up the acquisition of Ferrari-Carano Vineyards & Winery.
Foley Family Wines is further extending its California presence with another purchase
The company, which is based out of Sonoma in the US state, confirmed its latest purchase - for an undisclosed fee - earlier this week. Included in the transaction is Ferrari-Carano's ultra-premium PreVail wine brand, which retails at US$70-$105 per bottle and is named after the 39-year-old company's PreVail Mountain Winery in Alexander Valley.
Also transferring to Foley is the PreVail winery itself, along with a production facility in Dry Creek Valley, warehousing and around 1,2220 vines.
"We are excited to continue the legacy of this important Sonoma County winery," said Foley president Shawn Schiffer. "Ferrari-Carano shows strong, consistent performance across their portfolio, from their core Fumé Blanc and Chardonnay wines to their estate Cabernet Sauvignon and Pinot Noir wines to their Tuscan-style red blend, Siena."
Two years ago, Foley's New Zealand division sold a stake to Kirin Holding's Lion unit to help part-fund its acquisition of Otago's Mt Difficulty Wines.
How is the coronavirus hitting the wine industry? - Click here for a just-drinks comment
Sectors: Mergers & acquisitions, Wine
