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Foley Family Wines to buy Ferrari-Carano Vineyards & Winery

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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

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.

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just-drinks' Mergers & Acquisitions database - December 2019 - FREE TO ACCESS

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