CHEERS: Corks will be popping at LVMH Group, which on Tuesday announced it has acquired a 60 percent stake in Napa Valley-based winemaker Colgin Cellars for an undisclosed amount, adding to a portfolio that includes Château Cheval Blanc, Château d’Yquem and Domaine du Clos des Lambrays.
“We share with Colgin Cellars the same desire to offer the very best quality products. I am therefore delighted to welcome Colgin’s unique heritage into LVMH, reaffirming our strategy of selective acquisition of the best existing terroirs, and enriching our collection of iconic wines,” said Bernard Arnault, chairman and chief executive chairman of LVMH.
Colgin Cellars founders Ann Colgin and Joe Wender will maintain their leadership functions, alongside chief operating officer Paul Roberts and winemaker Allison Tauziet, according to a statement from the group, and have retained a 40 percent stake in the domaine, which is located at the northern end of IX Estate in the Pritchard Hill area of Napa Valley — untouched by the region’s recent fires — and offers views of Lake Hennessey. Colgin Cellars is known for its ultra-premium, limited-production wines. Its four Napa Valley red wines — Tychson Hill Cabernet Sauvignon, Cariad Napa Valley Red Wine, IX Estate Napa Valley Red Wine and IX Estate Syrah — are said to have developed an iconic status among wine collectors.
Among other recent high-profile vineyard acquisitions by luxury players, François Pinault in late October via his family holding company Artémis snapped up the prestigious Burgundy domaine Clos de Tart for a reported 220 million euros. Through Artémis, Pinault also owns the Eisele Vineyard Estate in Napa Valley, Château Latour in Bordeaux, Domaine Eugénie in Burgundy and Château Grillet in northern Rhône.
In the same month, Chanel — which owns Château Rauzan-Ségla, a winery in the Margaux appellation of France’s Bordeaux region, and Château Canon, a Saint-Émilion grand cru classé — bought the latter’s next door neighbor, Château Berliquet.
Financial details of the transaction were not disclosed.