Far Niente buys Provenance Vineyards winery in Napa Valley as Treasury Wine Estates sells brand

Far Niente Family of Wineries & Vineyards acquired the former home of Provenance Vineyards in Rutherford as Treasury Wine Estates sold that brand to a Lodi vintner.

Far Niente bought the winery for its Bella Union brand, the Napa Valley-based company announced Tuesday. The property at 1695 St. Helena Highway S. along Highway 29 is next to DeCarle Vineyard, one of the primary grape sources for that brand’s cabernet blend.

Meanwhile, Treasury Wine Estates Americas Co., a subsidiary of the Australia-based major global producer, sold the Provenance Vineyards brand and inventory to Thomas Wine Estates, maker of Hook or Crook Cellars, known for affordable Lodi-area wines.

Terms of the deals weren’t disclosed.

“We have been searching for a home for Bella Union that will enable us to provide our wines and experiences to consumers and the trade and more fully tell the story of Bella Union, which we introduced with the 2012 vintage from our vineyard holdings in Rutherford,” stated Steve Spadarotto, CEO of Far Niente.

The Provenance winery is set to reopen as Bella Union in early 2023.

The Provenance Vineyards brand has passed through multiple owners since it was launched 22 years ago. Chalone Wine Group started the brand then purchased the winery facility from Beaucanon Estate in 2002. In 2004, Diago PLC purchased it among the Chalone Wine Group brands in a $260 million deal, then Treasury acquired the brand in 2015 as part of a nearly $600 million portfolio deal for much of Diageo’s Chateau & Estate Wines portfolio.

Provenance wines include Napa Valley cabernet sauvignon, merlot, sauvignon blanc, chardonnay and rose. The brand includes premium label Fortitude, made from Napa Valley cabernet sauvignon.

“Adding a Napa Valley brand to our portfolio is a meaningful acquisition for our winery,” stated Allen Lombardi, founder and president of Thomas Allen. “The word provenance means origin or a sense of place, and that mindset aligns well with our company’s core values of family, determination and work ethic. We are proud to bring Provenance Vineyards back to its roots as a family owned and operated brand.”

Zepponi & Company of Santa Rosa served as the exclusive financial adviser to Treasury Wine Estates Americas. Farella, Braun + Martel, with law offices in St. Helena, advised Far Niente on the transaction. The Bank of Stockton and Napa law firm Block & Block advised Thomas Allen on the transaction.

Jeff Quackenbush covers wine, construction and real estate. Before the Business Journal, he wrote for Bay City News Service in San Francisco. He has a degree from Walla Walla University. Reach him at jquackenbush@busjrnl.com or 707-521-4256.

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