LVMH Group Buys Majority Stake In Napa Winery
The luxury-goods maker LVMH Group announced that it has acquired a 60% stake in the Napa Valley wine company Colgin Cellars.
The founder of Colgin Cellars, Ann Colgin and her husband Joe Wender have chosen to partner with the luxury-goods maker to preserve their long-term commitment to their Cabernet and Syrah wines, according to LVMH.
Under the agreement, Colgin and her husband will continue to hold 40% equity in the business and maintain their leadership functions. They will lead the company along with COO Paul Roberts and winemaker Allison Tauziet.
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