THE WINERY OF NAPA VALLEY SELLS CARNEROS INTERESTS
News relaese Napa, CA—Thursday, June 5, 2014 —
The Winery of Napa Valley, owned by the Michael Mondavi Family, has sold its Carneros winery facility, Carneros vineyard, and Carneros tastingroom to Kieu Hoang Winery Napa Valley, owned by American businessman, Mr. Kieu Hoang. The deal includes the Carneros winery, tasting room, and 13 acres of adjacent vineyard; no brands or other family-owned vineyard holdings are affected by the sale. Financial details of the sale were not disclosed. In announcing the sale, The Winery of NapaValley co-founder, Rob Mondavi Jr., stated:
“Over the past eight years the winery has been home to Folio Winemaker’s Studio, a custom-crush facility, and recently, Michael Mondavi Family Estate. As planned, the facility supported our start-up plans allowing maximum flexibility, however the current case-capacity far exceeds our vision to produce the small-lot, prestige wines we desire to produce under the Isabel Mondavi, Emblem, Animo and ’M‘ by Michael Mondavi” labels.
“We are actively looking to establish a boutique winemaking facility and tasting room in NapaValley be fitting the distinguished wines produced under the Michael Mondavi Family Estate umbrella,” Mondavi stated.
All affected staff at the property have been offered opportunities with the new owner, and further details will be announced once the transaction is complete. For the 2014 harvest, wines under Michael Mondavi Family Estate will continue to be produced by Rob Mondavi Jr. and Tony Coltrin in a leased facility located in Napa.
COO and winemaker of Kieu Hoang Winery, Craig MacLean, stated: “Although Kieu Hoang Winery is fairly new to the Valley, the company has been producing wine since 2012,exclusively for export markets. The goal has been to establish a US home for the brand where the fame of Napa Valley could be driven not only throughout the US, but also worldwide.”
“We desired a location that would support the growth of our portfolio and give us the tools to control wineprocessing from grape to bottle and we found that in this facility. The winery and tasting room staff are tremendous assets to our Company, and we look forward to working with them to share in our growth,” Mr MacLean said. Kieu Hoang Winery Napa Valley was created out of Mr. Hoang’s passionate enjoyment of wine.This passion led him to the historical and world renowned Napa Valley.
The region’s prestige goes hand in hand with the Michael Mondavi family lineage – an instrumental consideration in selecting the location from such an illustrious family.