[caption id="attachment_93347" align="aligncenter" width="555"] RAAS Corp.'s Kieu Hoang Winery acquired the Michael Mondavi Family Estate Winery property, including the tasting room shown here, on June 5. After it secures permits and licenses, the new owner plans to use it as a tasting room for its 2-year-old wine brand. Folio Fine Wine Partners plans to lease a tasting room elsewhere. (credit: Folio Fine Wine Partners)[/caption]
NAPA -- A Southern California-based entrepreneur in blood plasma and health-related products worldwide purchased the 100,000-case-a-year Michael Mondavi Family Estate Winery southwest of Napa and plans to grow a new high-end wine brand for Asian and U.S. markets.
Agoura Hills-based RAAS Corp. (818-991-6117, raascorp.com), the parent company of Kieu Hoang Winery, purchased the winery and more than 20 acres of surrounding vineyards and plantable land at 1285 Dealy Ln. in the Napa County side of Los Carneros winegrowing region for about $12 million. The sale closed Thursday.
Four brands produced by Mr. Mondavi's Folio Fine Wine Partners weren't included in the deal.
"We're very excited to have the tools now to make the premium wine we want," said Ian Scally, business development manager for RAAS.
[caption id="attachment_93349" align="alignright" width="154"] Kieu Hoang (credit: RAAS Corp.)[/caption]
Kieu Hoang, a U.S. citizen originally from Vietnam, started RAAS -- short for "Rare Antibody Antigen Supply" -- in 1980 as a supplier of blood plasma. The company built a large research-and-development center in China and now offers a line of blood- and health-related products.
Starting in 2010, Mr. Hoang expanded his focus to grapes as a health-promoting food. In 2012, he launched the cabernet sauvignon-focused Kieu Hoang Winery brand with 2011 vintage wine produced mostly at The Ranch Winery custom-production facility in St. Helena. About 10,000 cases have been produced and sold to China and other Asian markets for the equivalent of more than $50, before tax, tariffs and other charges.