FOLEY WINE GROUP BUYS FIRESTONE

Firestone Vineyard based in the Santa Ynez Valley confirmed yesterday it is being sold to the Foley Wine Group. Financial details were not disclosed. Firestone Vineyard will serve as an addition to Foley's small portfolio of estate wineries, with no major changes expected in operations, staffing and distribution. The Firestone acquisition is the beginning of other future deals for Foley, the company said.

Negotiations reportedly began in May, and the management transition started Wednesday (August 15). The sale is expected to close in September. The Firestone family will retain ownership of Curtis Winery, Firestone Walker Brewing Co. and a new winery in Paso Robles.