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Article: M & A: Firestone's sale; Family happy to sell Foley an engine for his small train of wineries.(Headlines)
- Article from:
- Wines & Vines
- Article date:
- October 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 Wines & Vines. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Los Olivos, Calif. -- Adam Firestone put into perspective the acquisition of his family wine business by the Foley Wine Group, announced Aug. 16. Firestone Vineyard in the Santa Ynez Valley of Santa Barbara County is the latest of several pioneering California wineries to transition in recent weeks, notably Duckhorn, Stag's Leap and William Hill in Napa Valley, and Davis Bynum in Sonoma County.
Firestone, president of the 150,000-case winery and a third-generation vintner, wouldn't reveal the price Foley is paying to acquire the Firestone Vineyard and Prosperity Wines brands, along with the Santa Ynez Valley winery and 480 acres of land, which counts 380 vineyard ...