Stag's Leap Wine Cellars sold to Antinori, Ste Michelle
July 31, 2007
Linda Murphy in San Francisco
Stag's Leap Wine Cellars, one of Napa's most celebrated estates, has been sold to a partnership of Italian winemaking icon Marchese Piero Antinori and Ste Michelle Wine Estates, the largest wine company in Washington state.
The sale is not yet finalised, but Winiarski confirmed yesterday that fundamental terms have been agreed to and signed by all parties.
The purchase includes the Stag's Leap Wine Cellars brand, winemaking facility and the SLV and Fay estate vineyards, from which two of Stag's Leap Wine Cellars' three most admired wines come. The third is the flagship Cask 23 Cabernet Sauvignon. Insiders say the takeover is worth US$185m.
Winiarski, his wife, Barbara, and their family will retain the Arcadia Vineyard, also in Napa Valley, and will provide grapes from Arcadia to the Antinori-Ste Michelle partnership. Winiarski said he will remain as an adviser to the new owners for three years.
'I'll need to teach them about the terroir that I learned over 40 years,' he said. 'I'll be here (at the winery) part-time. It's not like I'm turning out lights.'
Winiarski, 79, said it was time for him and his wife, Barbara, to retire, and that other family members weren't in positions to take over the business.
Winiarski's first vintage, the 1973 Cabernet Sauvignon, shocked the world by besting Bordeaux in extraordinary 'Judgment of Paris' tasting in 1976. It was a victory that put California on the winemaking map, and established Stag's Leap Wine Cellars as a global superstar, a position Winiarski has maintained to this day.
'We've been talking about (selling) as a family for four years, trying to come to the right decision,' Winiarski said. 'It became clear after a while that we needed to make a transition, because of (issues with) operating roles and ownership roles with the second generation. We all decided this; it was a deliberation by the family rather than a single decision.'
Winiarski said he drew up a short list of potential buyers and Antinori was on that list. Winiarski made the first contact. 'Piero suggested we enlarge the transaction,' bringing in Ste Michelle Wine Estates, Winiarski said. 'I have lots of confidence and trust in Piero. I've passed Stag's Leap Wine Cellars on to good hands.'
Antinori and Ste Michelle Wine Estates president Ted Baseler were not available Monday, but Baseler was quoted in a press release as saying: 'Stag's Leap Wine Cellars perfectly fits our shared vision of producing wines from historic vineyard sites, and for Ste Michelle, this is a terrific complement to our estate wineries in Washington, Oregon and California.'
Antinori added, 'There are few opportunities in one's lifetime when such a rare site is available. I am looking forward to being involved with this historic estate and becoming intimately familiar with its terroir.'
Antinori and Ste Michelle have another joint venture, Col Solare, a Cabernet Sauvignon-based proprietary wine made in a new winery in the Red Mountain appellation of Washington. And Antinori is no stranger to Napa Valley: he was co-founder of Atlas Peak Winery and owns vineyards in the Stags Leap District appellation in southeastern Napa Valley.
Terms of the SLWC sale were not disclosed, although Winiarski said Ste Michelle Wine Estates, which is a publicly traded company, would reveal financial details at the appropriate time.
Ste Michelle owns the Chateau Ste Michelle, Columbia Crest, Northstar and Spring Valley Vineyards brands in Washington, Erath Vineyards Winery in Oregon, and Conn Creek and Villa Mount Eden wineries in Napa Valley.
Have your say... To post your comment on this story, email us at news@decanter.com, making sure the relevant headline is in the subject field
This is depressing news. Was there now way for this iconic winery to remain independent? Must every successful small business end up as part of an "Engulf and Devour" corporation? I can't wait for the cross-branding to begin. Be the first on your block to get a pair of Stag's Leap Wine Cellars work boots and matching jeans.
theo
I am saddened to hear that Winiarski has sold the Estate , but , I understand his position in the matter . I am a major fan of his product . My question will be ; Will the quality change ? Will it be more of Italian style wines ? As far a label and package change , will it go to Antinori or Ch. Ste. Michelle , or both ?? When will the market see that first release ??
Joe, New Hampshire, USA
To Warren & family
You're the most creative force I've known in Napa, and I've known a lot of them. The wine industry is richer because of you. Congratulations, and best wishes always.
John Anderson, Draper & Esquin Wine & Spirits, LLC
I am dismayed that Stag's Leap Wine Cellars will not continue in the Winiarski family, just as I am that you noted the first Stag's Leap Wine Cellars vintage was 1973, instead of 1972.
Details, details. Like the initial story in TIME, which indicated, erroneously, that the 1972 Stag's Leap Wine Cellars Cabernet Sauvignon had bested them all in the 1976 Judgment in Paris.
Perhaps Carl Doumani was smart selling his Stags' Leap Winery to Beringer years ago, so that now, in his quixotic relationship with the world of wine, he need not worry about the details - of acquisition or apostrophes.
Warren, next Easter, I hope you and the family will enjoy a Mazurek Pomaranczowy.
Carl, light up a 109 for me.
Jim Fiolek, Santa Ynez, CA, USA
A la Inglenook, Ravenswood, Mondavi etc etc, look for the 5 million case production of Stag's Leap California appellation Cabernet Sauvignon coming soon to your favorite supermarket...
Dave in Az
I don't understand why there is such dismay over this announcement. From my tastings of recent Stag's leap vintages, I honestly have to say that Antinori and crew should be able to improve on the product.
Daniel McDaid
Why is this considered shocking news? I say good for the Winiarskis. They have spent their lives pursuing their passions, and now they get out with a boatload of coin. This is FAR from a small company being "DEVOURED" by some corporate takeover. As far as the comments condemning the sale and speculating that we will soon see Stag's Leap boots and matching jeans, I think the short-sighted author of such insipid comments is overlooking the fact that the Antinori family has been in the game for over 600 years.
Dan Sweeney, Boston
It seems to me that if Antinori had followed Dan's advice they would be short 570 years of winemaking tradtion and being "in the game."
Theo
Stag's leap will be in good hands. Tha passion and commitment Antinori puts in making a wine true to it's roots and terroir is well known and he will not let the stag's leap fans down! The ones critizising this deal clearly is not familiar with Antinori and their ways of respecting wine! Stag's leap will benefit from their research and experience around the world and keep it's identity!
Nina Witikka, Winestate Oy, Helsinki
The knee-jerk reaction to this news presented by folks like THEO is no less than comical. Warren made a business decision that is obviously in his best interest. Surely he would have opted to keep the business a family entity, if that was a viable option. Why is it that people like Theo ignore the man's history of commitment to excellence and immediately pass judgment, in their inane cries of corporate sellout? Surely this decision was a heart-wrenching one for Warren. However, His selling to St Michelle and Antinori is clearly indicative of his desire to pass the operation into able hands whose passion is evident in their wines. Theo's unnecessary dramatizations warning of "workboots and jeans" surely demonstrates his inability to recognize quality and integrity.
Daniel Sweeney
Register on decanter.com absolutely free for news alerts delivered direct to your email inbox, and our fortnightly newsletter with advance notice of what’s coming up in Decanter magazine, offers, competitions and more.
PLUS registration is a one-stop shop for the Decanter magazine Archive and Decanter Fine Wine Tracker.
This is depressing news. Was there now way for this iconic winery to remain independent? Must every successful small business end up as part of an "Engulf and Devour" corporation? I can't wait for the cross-branding to begin. Be the first on your block to get a pair of Stag's Leap Wine Cellars work boots and matching jeans.
