Duckhorn Wine Group buys 50 acres of Napa Valley vineyards
The Duckhorn Portfolio Inc. (NYSE: NAPA), whose wine brands include Duckhorn and Decoy, announced Thursday that it has completed the purchase of three Napa Valley vineyards totaling 50 acres and leased a fourth vineyard.
The deals include 40 acres in two parcels of the Stanly Ranch vineyard in the Los Carneros appellation, home to the Duckhorn’s Migration winery, and the 10-acre Red Wing vineyard in the St. Helena wine region.
Financial details of the acquisitions were not disclosed. But Lori Beaudoin, chief financial officer, said on a quarterly earnings conference call last month that she plans to spend a total of $14.3 million to buy three Napa Valley vineyards as sources of fruit for brands. such as Duckhorn and Migration.
The company also signed a long-term lease with Alton Family Vineyard, located next to Red Wing Vineyard, according to Duckhorn. The grapes will go into the Duckhorn Vineyards brand.
The two parcels of Stanly Ranch were planted in 2001 and are adjacent to the Migration winery and a 10-acre vineyard already owned by the company. Located southwest of Napa, Stanly Ranch Haire has loamy clay soils and a cool climate influenced by the site’s proximity to San Pablo Bay. The new acreage is planted with five pinot noir clones and three chardonnay clones, which will be used for Migration’s cool climate chardonnay and pinot noir labels.
The Red Wing vineyard is planted with Sauvignon Blanc, Sémillon and Merlot. It has been a source of Sauvignon Blanc for the Duckhorn Vineyards brand for more than 15 years, the company said. The block of Merlot will be rearranged with Sauvignon Blanc and Sémillon.
That vineyard is now called Wolfe Vineyard after the property’s former owners, Duckhorn said. Stanly Ranch Vineyard’s new 40 acres will also be renamed in the coming months.
“As our portfolio has grown to include ten acclaimed luxury wineries, our commitment to having a strong Estate vineyard program continues to be essential to ensuring the exceptional quality of our wines,” said Alex Ryan, CEO and President.
Duckhorn portfolio wineries now include 298 acres in Napa Valley, 500 acres in other North Coast appellations, 82 acres in the Central Coast Mt. Harlan appellation and 20 acres at Longwinds Vineyard on Red Mountain in Washington State.
The company operates eight winemaking facilities and seven tasting rooms. Brands also include Paraduxx, Goldeneye, Canvasback, Calera, Kosta Browne, Greenwing and Postmark.
Jeff Quackenbush covers wine, construction and real estate. Prior to The Business Journal, he wrote for Bay City News Service in San Francisco. He graduated from Walla Walla University. Contact him at [email protected] or 707-521-4256.