Bloomberg 28 July 2013
The family of French billionaire Francois Pinault, owner of Chateau Latour in Bordeaux, has acquired California’s Araujo Estate Wines along with its flagship Eisele Vineyard.
Araujo has 162 acres (66 hectares) in the northern Napa Valley, including Eisele, which produces Cabernet Sauvignon red wines, along with a winery and cellar complex. No purchase price was disclosed.
The deal comes amid rising demand for Californian premium wine since 2011 after three years of decline during the financial crisis. John Kapon, chief executive officer of New York-based auction house Acker Merrall & Condit, described demand for California wines this month as “very healthy.”
Araujo and Eisele “have been producing consistently one of the very best wines of Napa Valley,” Frederic Engerer, Chief Executive Officer of Chateau Latour, said in a statement released July 25.