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Far Niente CEO hangs up his hat

Napa Valley big-hitter Far Niente Wine Estates appoints an interim CEO as Steve Spadarotto steps down.

Far Niente, which owns six luxury wineries across Napa Valley and Russian River Valley in Sonoma, is about to enter a new chapter as CEO Steve Spadarotto retires.

During his seven years with the business Spadarotto led Far Niente to become “one of North America’s most dynamic and successful luxury wine companies,” said Rick Magnuson, founder of GI Partners, which jointly owns Far Niente with Apax Partners.

Magnuson added that Spadarotto had helped guide Far Niente through an “exceptional period of financial growth and new product innovation”, including the launch of its Post & Beam wine collection in 2020, and the renovation of the Bella Union Winery in Rutherford last year.

Spadarotto also struck up a partnership with winemaking consultant Thomas Rivers Brown to “elevate the Cabernet Sauvignon programmes” across Far Niente’s portfolio, particularly at its Stelling Vineyard in Oakville and Bella Union Winery’s estate vineyards in Rutherford.

As a result, in 2024 Far Niente was able to achieve double-digit depletion growth during “one of the most challenging years in the wine industry’s history.”

New face

Far Niente has appointed Carol Reber, who has formerly held roles at Gallo and The Duckhorn Portfolio, as well as sitting on Far Niente’s board of directors for the last two years, as interim chief exec.

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Calling Reber an “omni-channel brand architect”, Magnuson said: ““I have worked with Carol for more than a decade and have been impressed first-hand by her industry acumen and leadership capabilities as both an executive and a Board member. We look forward to seeing her usher in the next era of progress.”

Speaking about her new appointment, Reber praised Far Niente’s “unparalleled positioning in luxury wine”, and said she is looking forward to spearheading “an exciting new chapter for these storied wineries.”

Retiring CEO Spadarotto asserted that he is “proud of what our team has accomplished over the past seven years…

“I leave the Company knowing that Far Niente is in great hands and poised for even greater success in the years to come.”

Far Niente owns more than 400 acres (161 ha) of premier Napa and Russian River Valley vineyards. It is jointly owned by private investment firm GI Partners and private equity advisory firm Apax Partners, and in 2021 acquired Provenance Vineyards in Rutherford, with Spadarotto saying at the time: “We realised as part of our longer-term strategy that we really need to buy more vineyards.”

 

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