Chalone Wine Group has accepted the takeover offer from the Rothschild family – which will allow a joint venture between these two companies together with Constellation Brands and the Huneeus Family of Chile.
Domaines Barons de Rothschild announced today it would acquire the 51% of Chalone that it does not own already.
The group intends to develop an estate in Napa to produce a top terroir-based wine. At this stage the partners are not revealing what sort of wines and what price points they intend to make.
The Huneeus family will contribute its Quintessa Estate in Rutherford, Napa, and Constellation will provide the Oakville Vineyard in Napa.
Subject to approval by shareholders, when the the merger is finalised Agustin F Huneeus will be named chief executive officer of the new company. Christophe Salin, president of Rothschild and chairman of the board of directors of Chalone, will be named chairman of the board.
Written by Adam Lechmere, and agencies