J-V ACQUIRES STAG’S LEAP FOR $185 MILLION

The famous Stag’s Leap Wine Cellars announced it is being acquired by a joint-venture between UST’s Ste. Michelle Wine Estates and Marchese Piero Antinori of Italy. The sale includes the estate’s brand, its Napa winery and its Napa estate vineyards, S.L.V. and Fay. Founding winemaker Warren Winiarski will remain in an advisory role for three years.

Ste. Michelle will own 85% of the j-v with privately held Marchesi Antinori, which UST already distributes in the United States.

As most of you are probably familiar, Warren’s 1973 Cabernet Sauvignon, produced from Stag’s Leap’s first commercial crop, stunned the wine world during the 1976 Paris Tasting when it beat four top-ranked Bordeaux wines. Warren also worked as one of the first winemakers at a then upstart winery called Robert Mondavi prior to the infamous tasting.

Warren told decanter.com that “it became clear after a while that we needed to make a transition, because of (issues with) operating roles and ownership roles with the second generation. We all decided this; it was a deliberation by the family rather than a single decision.”

The Winiarski family will retain its Arcadia property to provide grapes for the Antinori-Ste Michelle partnership.

The deal is expected to be closed in September, says UST.