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The French luxury group LVMH has purchased another top vineyard with the Californian Colgin Cellars. LVMH says it has taken over a 60 percent share of the winery in Napa Valley. 40 percent remain with the owner couple Ann Schrader and Joe Wender. Colgin Cellars sells the approximately 50,000 bottles of wine produced annually through his mailing list and to luxury restaurants.
Founded in 1992, the winery has 10.5 hectares of vineyards in prime Pritchard Hill locations and has developed into a "cult" winery with wines that have earned the highest international ratings. Bottle prices are currently around 500 to 800 euros per bottle. The parties did not provide any information about the purchase price.
Schrader and Wender, the winemaker Allison Tauziet and the plant manager Paul Roberts will continue to perform their management duties after the takeover, LVMH announced.
(uka / Photo: LVMH)