SONOMA -- Financial services industry giant turned vintner Bill Foley announced today he is acquiring Chalk Hill Winery as well as Fred Furth's 500-acre estate home.
Mr. Foley and Mr. Furth signed a letter of intent to sell the 45,000-case winery, inventory, intellectual property, equipment and 278 acres of vines for an undisclosed price and to sell Mr. Furth's home for $20 million. The deal is expected to close in a month, according to a spokeswoman for Mr. Foley's wine company, Foley Family wines.
The winery and vineyards can accommodate production of 60,000 cases a year, and Mr. Foley plans to increase production to that level.
Since 2007, Mr. Foley has expanded his wine industry holdings from LinCourt Vineyards, started in Santa Barbara 14 years ago, to Las Mermanas in Santa Rita Hills, Firestone Vineyard also in Santa Barbara, Merus and Altus brands as well as Venge in Napa, Three Rivers Winery in Walla Walla Valley in Washington state, Sebastiani Vineyards in Sonoma Valley, a majority stake in Kuleto in Napa Valley, Wattle Creek in Alexander Valley and the New Zealand Wine Fund collection of brands.
Mr. Foley is chairman of Fidelity National Financial and Fidelity National Information Services, both in Florida.