SND: Treasury Wine Estates Buys Frank Family Vineyards, Expanding Napa Holdings

The $315 million deal further shifts the Aussie wine giant into premium brands

SND: Treasury Wine Estates Buys Frank Family Vineyards, Expanding Napa Holdings
Winemaker Todd Graff, left, will stay on at Frank Family while co-founder Rich Frank shifts to being a vineyard owner. (Lisa Sze)
Nov 18, 2021

One of the world's largest wine corporations is buying a Napa Valley winery, taking another step in adding more premium wines to its U.S. portfolio. Treasury Wine Estates announced yesterday a deal to acquire Frank Family Vineyards for $315 million. Frank Family is known for Chardonnay and also makes Cabernet Sauvignon, Pinot Noir and sparkling wine. The company had net sales of $54 million in its most recent fiscal year. Annual production stands at 174,000 cases.

The deal includes the Frank Family tasting room in Calistoga, the Benjamin Vineyard in Rutherford, the S&J Vineyard in Capell Valley, and a portfolio of wines with retail price points ranging from $38 to $225 per bottle. Rich and Leslie Frank will maintain the ownership of Winston Hill Vineyard in Rutherford and the Lewis Vineyard in Carneros, but will continue to sell grapes from those vineyards to Frank Family. Winemaker and general manager Todd Graff will remain with Frank Family Vineyards.

"The acquisition of Frank Family Vineyards represents an outstanding addition to the Treasury Americas brand portfolio and is another important step towards our ambition of becoming the premium wine market leader in the Americas," said Ben Dollard, president of Treasury Wine Estates Americas.

Treasury executives noted that the acquisition, coupled with other recent moves such as its licensing of 4.2 million cases of lower-priced wines to The Wine Group and sale of the former Provenance winery to Far Niente, furthers its shift in the U.S. from low-priced value wines to more expensive premium brands. With this deal, Treasury said it will boost its share of the $20-and-up wine market in the U.S. to 7 percent from 5.3 percent. TWE's other luxury brands include Beaulieu Vineyard, Beringer, Stags' Leap, Etude and Penfolds.

For more analysis of the deal, visit Shanken News Daily.

News Economy Winery Purchases and Sales

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