Napa wine giant Delicato Family Wines has acquired Francis Ford Coppola Winery for an undisclosed sum, though the Hollywood heavyweight is keeping Inglenook.
Under the terms of the agreement, the Francis Ford Coppola wine portfolio and two facilities in Sonoma County – Francis Ford Coppola Winery and Virginia Dare Winery in Geyserville, including the Archimedes Vineyard – will join Delicato.
Inglenook and Domaine de Broglie Winery and vineyard will remain separately owned and run by the Coppola family.
The merger will make Delicato the number five producer of wine above US$11 in the US, and the third largest exporter of California wines. Coppola Diamond is the number three wine brand in the domestic super-premium category in the US.
Acclaimed director Francis Ford Coppola will have an equity stake in Delicato Family Wines and join Delicato’s board of directors.
The company will continue to be managed by president and CEO, Chris Indelicato, and Corey Beck will join Delicato’s executive leadership team as executive vice president of production and chief winemaker.
“Over my lifetime, Coppola has become a household name across America. What started as a dream to buy a family cottage in Napa Valley turned into a million+ case business producing iconic award-winning wines,” Francis Ford Coppola said.
“I have found the perfect fit to take our family winery to even greater heights. Delicato is also family-owned and shares similar core values as both companies are anchored by long-term sustainable focus and a foundation built on family values: integrity, respect, quality, accountability, partnership, excellence, and community,” he added.
“There is a strong cultural fit between our two companies, and by combining two highly complementary portfolios, we create a more diversified winery.
“This places us in a strong position in key growth categories to capitalise on positive market trends, drive profitable growth and create opportunities for our employees,” Chris Indelicato said.
“This is an exciting and significant expansion for Delicato Family Wines as we bring Francis Ford Coppola Winery and their brands under our portfolio. We look forward to leveraging Francis Ford Coppola’s creativity and fine wine capabilities that have appealed to consumers, distributors, and retailers globally, further bolstering our portfolio strategy,” he added.
The transaction is expected to be finalised in the coming month, subject to regulatory approvals. Deutsche Bank is serving as exclusive financial advisors and Winston & Strawn LLP is acting as primary legal advisors for Delicato Family Wines.
Information from The Drinks Business