The wine industry is much more fragmented then spirits and beer given its farming nature and loads of small and medium-sized vineyards.But three significant wine acquisitions were announced yesterday, which we believe marks the beginning of a flow of future mergers in the wine world.
Stag's Leap was purchased by a joint-venture between Chateau Ste. Michelle and Italy's Marchesi Antinori, while E&J Gallo purchased Beam Wine Estate's William Hill winery.
And finally, private equity firm GI Partners of Menlo Park announced they were buying a controlling interest in Duckhorn Wine Co..
Dan and Margaret Duckhorn will remain with the company, as well as most, if not all, the employees.
Terms were not disclosed, but several reports estimate that the asking price was in the $250 million range.
