The purchase includes The Four Graces business, the Black Family Estate Vineyard with 54 acres of planted vineyard, located in the Dundee Hills AVA, as well as the Doe Ridge Estate Vineyard with 41 acres of vineyard, located in the Yamhill-Carlton AVA. The winery produces about 22,000 cases of wine each year.
Terms weren't disclosed.
The deal follows Jackson Family Wines’ recent purchase of Solena Estate in the Yamhill Carlton district its purchase of Zena Grown; its purchase of Gran Moraine, a 200-acre in the Yamhill Carlton district; and its purchase of Soléna Estate (renamed Gran Moraine).
International Wine Associates of Healdsburg, California served as the exclusive advisors and represented The Four Graces in the transaction with Bill Foley.
IWA represented Louis Jadot in its first acquisition outside of Burgundy, the purchase of the Resonance Vineyard in Willamette Valley, a 20-acre vineyard in the Yamhill-Carlton AVA. “This is IWA’s second deal in Oregon in the past 6 months,” Robert Nicholson of IWA told Winebusiness.com. “It’s an indication that more things are happening in Oregon. Oregon has come of age, generating interest all over the world.”
In a news release announcing the purchase, Bill Foley said, “I’ve had my eye on Oregon for a long time. I’m a big fan of Pinot Noir and the Dundee, Oregon region produces some of the best. The Four Graces’ incredible Estate grown wines are an exciting addition to the Foley Family of Wines.”
The Four Graces was founded by Paula Marie Black and Steven L. Black and established by the Black family in 2003 with the purchase of the Black Family Estate in Dundee. The winery was named after the founders’ four daughters. The tasting room draws about 30,000 visitors each year.
“We had a huge wonderful team of people working on this and it could not have been more professional and smooth as a sale can be,” Four Graces general manager Eugenia Keegan said. With the sale to Foley completed, Keegan said she is joining Jackson Family Wines as general manager for Oregon.
Foley Family Wines has assembled a portfolio of fifteen wine estates in the USA and New Zealand since 1996.
source : winebusiness.com/news
