LVMH takes majority stake in Napa’s Colgin Cellars
Moët Hennessy has bought a controlling share of cult Napa estate, Colgin Cellars, in a deal announced today.
Under the terms of the agreement, Ann Colgin and Joe Wender will sell a 60% stake to the LVMH Group while continuing to hold 40% equity in the business and maintaining their leadership roles.
Their winery team will continue to be led by Ann Colgin & Joe Wender along with COO, Paul Roberts and winemaker, Allison Tauziet.
Founded by Ann Colgin in Napa Valley 25 years ago, Colgin Cellars’ reputation is rooted in four wines – Tychson Hill Cabernet Sauvignon, Cariad Napa Valley red, IX Estate Napa Valley red, and IX Estate Syrah.
The winery is located at the northern end of IX Estate in the Pritchard Hill area of Napa Valley – untouched by the recent Napa Valley fires – and offers views of Lake Hennessey.
The wines are sold primarily through an exclusive client list and also distributed to restaurants and retailers in the US and over thirty countries globally.
“After a social introduction to Mr. Arnault several months ago and discussions with the LVMH team, I realized that I could not find a better partner for Colgin Cellars to preserve our founding spirit and our exquisitely handcrafted red wines into the future,” said Ann Colgin, founder of Colgin Cellars.
Continuing, she commented, “We are happy to join the LVMH Group to continue to offer our loyal customers the unique and high-end experiences we’ve been creating for them for over a quarter of a century”.
Bernard Arnault, chairman and CEO of LVMH added, “I am delighted to welcome Colgin’s unique heritage into LVMH, reaffirming our strategy of selective acquisition of the best existing terroirs, and enriching our collection of iconic wines such as Château Cheval Blanc, Château d’Yquem or Domaine du Clos des Lambrays.”
The deal will see LVMH add to its vineyard holdings in Napa, as the world’s largest luxury goods company already owns the Newton Vineyard wine estate, which is based in St. Helena.