William Foley has signed a letter of intent to purchase highly regarded Sonoma County producer Chalk Hill Winery. Terms of the offer were not disclosed, but Foley, the chairman of two Florida financial companies, told Wine Spectator he is buying the 45,000-case winery, inventory, label, equipment and 278 acres of vineyard in the Chalk Hill appellation. In a separate deal, Foley is personally buying the home of Chalk Hill founder Fred Furth, including another 500 acres, for $20 million.
Maison Champy, Burgundy's oldest négociant, has closed a deal to buy Domaine Laleure-Piot. Maison Champy director Pierre Meurgey said the purchase includes the stock of wines and the winery in Pernand-Vergelesses. As for Laleure-Piot's 25 acres of mostly premiers crus and grands crus, a group of private investors purchased the land and gave Champy a 25-year lease.
For the full article, check out the new issue of Wine Spectator, on newsstands August 24, 2010.
Do you have a Wine Spectator magazine subscription? Save 50% on your Online Membership right now!
Sips & Tips | Wine & Healthy Living
Video Theater | Collecting & Auctions