Vintage Wine Estates has bought Clos Pegase Winery and Vineyards for an undisclosed fee.

The deal for the Napa Valley estate includes the Calistoga vineyards and a lease on the Los Carneros vineyards, totalling 450 acres, Vintage said yesterday (21 August). Vintage plans to expand the estate's distribution network and invest in new facilities, it said.

Jan Shrem founded Clos Pegase Winery in 1984 and Shrem, who turned 83 last month, said Vintage will build upon his legacy.

Financial details behind the transaction were not disclosed.

“It is with admiration and respect that I pass the torch of my beloved Clos Pegase to Vintage Wine Estates,” Shrem said.

This month, France's Pinault family also bought a Napa Valley winery, acquiring the 38-acre Araujo Estates Wines for an undisclosed fee.

View Larger Map