(EDITOR’S NOTE: According to industry reporting, the property is expected to trade for $315 million).
November 17th – Treasury Wine Estates Ltd (TWE), one of the world’s largest wine companies, is pleased to announce it has reached an agreement to acquire the highly acclaimed Frank Family Vineyards (FFV), including the historic winery, brand and vineyard holdings. The transaction is expected to close in December 2021.
The FFV portfolio is complementary to Treasury Americas, filling a key portfolio opportunity for luxury chardonnay. TWE is well placed to enhance FFV’s growth given its leading luxury sales credentials, national distribution network and access to exceptionally high-quality vineyards.
The acquisition includes the Frank Family Tasting Room located at 1091 Larkmead Lane in Calistoga, the Benjamin Vineyard in Rutherford, the S&J Vineyard in Capell Valley, and a portfolio of award-winning luxury wines across three collections with retail price points ranging from US$38 to US$225 per bottle, all specially crafted by Frank Family winemaker and general manager, Todd Graff, who will remain with Frank Family Vineyards after closing.
Rich and Leslie Frank will maintain the ownership of Winston Hill Vineyard in Rutherford and the Lewis Vineyard in Napa, Carneros. Both vineyards will continue to source grapes for the Frank Family reserve tier after the sales agreement.
Ben Dollard, Treasury Americas President commented, “The acquisition of Frank Family Vineyards represents an outstanding addition to the Treasury Americas brand portfolio and is another important step towards our ambition of becoming the premium wine market leader in the Americas. Rich, Leslie, and the entire Frank Family Vineyard team have built an outstanding legacy that we are excited to nurture for years to come. We are thrilled that Rich and Leslie will continue to be very involved and welcome the FFV team to Treasury Wine Estates.”
On the sale, Rich Frank commented, “Leslie and I look forward to continuing to be a part of the next chapter of Frank Family Vineyards, a business we have spent nearly three decades cultivating into a beloved luxury wine brand. We have prided ourselves on creating a family atmosphere among our staff and our guests and know this legacy will carry on. We, along with our team, are excited to remain actively involved with Frank Family, while also taking on new leadership roles with Treasury Americas.”
About Treasury Wine Estates
Treasury Wine Estates (TWE) is the world’s largest premium wine company, listed on the Australian Securities Exchange. In the Americas, TWE has a portfolio of trusted brands including Penfolds, 19 Crimes, Beaulieu Vineyard (BV), Beringer, Beringer Bros, Etude, Sterling Vintners Collection, Stags’ Leap, Matua and St Hubert’s The Stag.