Californian wine company Sebastiani Vineyards is set to be sold to US wine group Foley for an undisclosed sum, it was announced yesterday.
Mary Ann Cuneo, CEO of the large-scale Sonoma-based producer, was reportedly in talks with Foley for some time before the deal was reached.
Sebastiani, founded in 1904 by Samuele Sebastiani, sold its cheaper line of Turner Road wines in 2000. The company currently makes Cabernet Sauvignon, Merlot, Chardonnay, Pinot Noir and Zinfandel, all in Sonoma County.
The Foley Wine Group owns a portfolio of US wineries across the west coast including Foley Estates Vineyard and Winery, Lincourt Vineyards, Firestone Vineyards, Merus, Altus, Goodnight Cellars and Three Rivers Winery.
‘A slumping market for higher-priced wine, the lack of a clear succession plan and years of division among the third generation of Sebastianis were behind the sale,’ said the LA Times.
Written by Oliver Styles
