Crimson Wine Group Acquires Seghesio Family Vineyards
Crimson Wine Group CEO Erle Martin announced today the acquisition of Seghesio Family Vineyards, one of California's oldest family owned wineries specializing in estate-grown Zinfandel wines. Another milestone in Crimson's history, Seghesio Family Vineyards joins the estate-focused portfolio of luxury domestic brands including Archery Summit (Willamette Valley, OR), Chamisal Vineyards (Edna Valley, CA) and Pine Ridge Vineyards (Stag's Leap District, CA) as a well-loved and respected family winery in the Dry Creek Valley AVA, which critics have deemed Zinfandel nirvana. Martin was seeking to complement Crimson's compelling portfolio with a dedication to a particular varietal similar to the Pinot Noir focus of Archery Summit, the Burgundian focus of Chamisal Vineyards and the Cabernet Sauvignon focus of Pine Ridge. Always keeping an eye out for strong brands that synergistically work with Crimson's philosophy, Martin had a long relationship of mutual respect in the wine business with Seghesio owner Peter Seghesio.
Seghesio, who will remain on with the winery, represents the 3rd generation of the family who literally and metaphorically put down roots in the Alexander Valley of Sonoma in 1895 and were instrumental in the development of Sonoma as a wine region. Over the years, the family acquired 400 acres, and planted 300 of them. “Much like the best things in life, it's always serendipitous when you find a great match in business or in your personal endeavors,” stated Seghesio. “Crimson Wine Group represented just that, a company and team whose philosophy towards nurturing brands, along with vision, a strong distribution network and access to capital, would allow us to grow to the next level, a level that business on a family scale would have difficulty attaining on its own.”
In the 1990s, the Seghesio family, who had grown sizeable in its 100 years of doing business, refocused from producing popular priced Zinfandel and table wine to higher quality offerings in keeping with the emerging premium and super premium wine market. Precision sustainable farming, including frequent thinning and hand-farming of vineyards, produced lower yields and ensured even ripening across the family's 300 acres of vines, significantly improving quality and delivering a distinctive, balanced style which has been met with great critical acclaim. The winery has gained a place on the Wine Spectator's Top 100 list an impressive six times in just the past decade.
Much of the family will remain in place in the day to day management and operations of the winery including winemaker Ted Seghesio and Peter, who will assume the role of Winegrower. In this position he will continue to work closely with the vineyard management team as well as with Ted on blending decisions, and will also act as ambassador for the family and the winery at home and on the road. Stated Martin, “We want to keep the heart and soul of the winery intact with the family, who will continue to inform the vision and create its success.” Details of the sale were not disclosed. Demeter Group, the San Francisco-based investment bank for growth consumer and retail companies, acted as exclusive financial advisor to Seghesio Family Vineyards.
About Crimson Wine Group
The Crimson Wine Group is a leading company in the luxury domestic wine business, with five coveted brands and over 700 planted acres in five growing regions and 11 outstanding AVAs across California, Oregon and Washington. Representing over 250,000 cases within the higher-end price segments, Crimson focuses on estate-grown wines from producers that represent the best their appellation has to offer. The portfolio is a diverse collection, across both varietals and appellations, of top quality wines for the marketplace which are thoughtfully stewarded by the company's team.
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