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The Wonderful company furthers Napa investment with new Calistoga vineyard
County records have revealed that The Wonderful Company, which owns Paso Robles estate Justin Vineyards and Winery, has acquired a vineyard near Calistoga — the next step in the company’s Napa investment plan.
The Los Angeles-based company has acquired the 42-acre vineyard from Vintage Wine Estates Inc., county records show.
The sale, undertaken by business entities affiliated with The Wonderful Company, cost approximately US$11 million, as reported by Wine Business. The deed was filed 2 March in Napa.
In September 2021 The Wonderful Company made its first foray into Napa Valley with the purchase of esteemed estate Lewis Cellars, whose Cabernet Sauvignons sold for US$175 per bottle at the time of purchase. Lewis Cellars was the third California winery welcomed to the company’s portfolio.
In this latest acquisition, Estate Vineyards LLC and TVP Acquisition Company LLCwere listed as the buyers, according to the grant deed and state records. The two business entities are affiliated with The Wonderful Company and Justin Vineyards.
Vintage Wine Estates, the company thought to have offloaded the Calistoga vineyard, is a Sonoma-based wine group consisting of some 50 Californian brands ranging from $10-$150 at retail.
The wine group began increasing its investment in California’s Central Coast with the purchase of Pinot Noir specialist Laetitia Vineyard and Winery in 2019, which includes over 680 acres overlooking the Pacific Ocean.
Vintage Wine Estates acquired fellow Arroyo Grande-based winery Qupé in November 2018 and bought Paso Robles-based Alloy Wine Works in 2019. It also owns Clayhouse Wines in Paso Robles, which it bought in 2016. It also sources fruit from the Central Coast regions for its brands Layer Cake, Purple Cowboy and Horseplay.
db has reached out to The Wonderful Company for comment on the new acquisition.