NEWS
KOREAN-OWNED SHAFER VINEYARDS ACQUIRED 46 HECTRES FROM CULT WINERY SCREAMING EAGLE
By Susan Lewis
11-8-2022
Source: Shafer Vineyards/Instagram
Napa winery Shafer Vineyards, owned by Korean retail giant Shinsegae, has acquired 46 hectares of vineyards for USD35 million from cult wine maker Screaming Eagle.
According to local reports, the acquisition includes the 9-hectare Wildfoote Vineyard in the prestigious Stags Leap District.
Shafer Vineyards was bought in February this year by Shinsegae Property, the property division of Korean retail giant the Shinsegae Group, for USD250m. The Shinsegae Group is seeking to expand its alcoholic drinks business into the premium segment.
Seller Screaming Eagle Winery is renowned for being the California cult wine which beat top Bordeaux reds in the Judgment of Paris blind tasting organised by the late Steven Spurrier in 1976.
The Wildfoote Vineyard, located to the south of the Yountville Cross Road on the Silverado Trail, is planted with Cabernet Sauvignon, Cabernet Franc and Merlot.
“We’ve known for years that the fruit from this property is very special. The real winner in this is the consumer, as it gives our winemaking team the ability to choose the best possible fruit in a given vintage,” Shafer Vineyards’ president, Doug Shafer, said in a statement.
Established by Doug’s father John in 1972, Shafer Vineyards is known for its flagship wines such as Hillside Select, One Point Five, Relentless and TD-9.
Doug said in February that he and winemaker Elias Fernandez and the team will stay on for the foreseeable future after the change of ownership.
(the writer can be contacted at: info@thewinechronicle.com)
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