Crimson buys Domaine Alfred
- Friday 29 August 2008
Crimson, the privately-held company that owns Napa Valley’s Pine Ridge, Oregon’s Archery Summit and Washington State’s new Double Canyon Vineyards is expected to close the deal today on the purchase of the Domaine, one of California Central Coast’s best regarded Pinot Noir and Chardonnay producers.
The price was not disclosed, but has been estimated to be in the neighborhood of US$30m.
The deal also includes the winery’s estate Chamisal Vineyard, which was first planted in 1972, then re-planted in 1996.
Terry Speizer, Domaine Alfred’s owner since 1994 and self-proclaimed ‘serial entrepreneur’, will move on, but Fin du Fresne, winemaker since 1996, will stay at the Domaine.
Crimson president and CEO Erle Martin, says Domaine Alfred was a ‘seamless match’ for its portfolio of estate-based luxury wineries that are committed to organic and biodynamic viticulture.
Because of the terroirs of Oregon and California’s Edna Valley, Martin says he doesn’t believe the Pinot Noirs of Archery Summit and Domaine Alfred are competing products.
‘The flavor profile is totally different. California Pinot Noir is rounder and deeper in fruit, while Oregon is more like Burgundy, with more nerve and brighter acidity… it takes longer to develop in the bottle.’