Napa Valley's Duckhorn has agreed a deal to buy celebrated California Pinot Noir producer Kosta Browne for an undisclosed fee.
Duckhorn said this week that it expects the deal to close next month.
It is just over three years since private equity group JW Childs bought a majority stake in Kosta Browne, located in Sebastopol and which produces some of California’s top Pinot Noir wines.
The fresh deal with Duckhorn includes 69 hectares of vineyards that are either owned outright by Kosta Browne or on long-term lease to the winery.
The acquisition also includes all assets and inventory, Duckhorn said, making particular mention of the Cerise vineyard in Anderson Valley, parcels in the Keefer Ranch Vineyard in Russian River Valley and Gap’s Crown vineyard on the Sonoma Coast.
Kosta Browne’s current team, including CEO Scott Becker and winemaker Nico Cueva, was set to remain at the winery, Duckhorn said.
John Childs, chairman of JW Childs Associates, said, ‘Every action, whether the purchase of Cerise or our proprietary bottling line, was taken to advance the quality of Kosta Browne wines.
‘We have made great strides and are pleased that Duckhorn will continue this journey.’
It was announced last year that winery founders Dan Kosta and Michael Browne would be stepping down from the company. Both were known to have been pursuing personal projects.
Duckhorn said that its deal for Kosta Browne did not include Cirq, a Pinot project started and owned by Browne.
Published online in April 2018 for Premium members