Legendary Napa producer Shafer Vineyards has purchased a nine-hectare vineyard in proximity to its winery in the Stags Leap District from Screaming Eagle founder Arlie Jean Phillips as part of a $35 million deal.
Shafer Vineyards was acquired earlier this year by the Korean luxury firm, Shinsegae Property, and it has now purchased the nine-hectare Wildfoote Vineyard in the Stags Leap District of Napa Valley.
The deal has been reported by various news outlets to form at least part of an overall acquisition of some 46 hectares for $35 million.
In a statement, Shafer Vineyards said that the purchase ‘secures a key source for the winery, ensuring that winemaker Elias Fernandez will continue to select from the best-of-the-best fruit each vintage.’
Cabernet Sauvignon, Cabernet Franc and Merlot grapes are all grown in the Wildfoote Vineyard. Shafer Vineyards’ President Doug Shafer commented on the sale that ‘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.’
General Manager Matthew Sharp highlighted that ‘this is a once-in-a-generation opportunity to acquire a world-class vineyard property of unequaled caliber’. He added that ‘it’s a great privilege to make this site part of the Shafer Vineyard portfolio.’
Shinsegae Property, the property arm of a Korea-based luxury company, purchased Shafer Vineyards in February earlier this year.
A historic Napa winery founded in 1972, Shafer Vineyards is one of a handful of the region’s producers that helped gain worldwide recognition for its wines.
Commenting on the sale, Doug Shafer added: ‘for those who are fans of our wines and our team, you’ll see a continuation of everything you love about the winery.’ ‘There may be some new things down the road that I think you will love and embrace as well.’
