Friday,
December 26, 2008
Sebastiani
Vineyards, Century old, Family-owned
The
ANNOTICO Report
Sebastiani
Foley Wine
Group Snaps Up Sebastiani Vineyards
Forbes
Magazine
From
Associated Press
By
Betsy Vereckey
December
23, 2009
After
more than a century in business, a family-owned
Amid increasing
competition and consolidation in the wine industry, Foley Wine Group has
purchased Sebastiani Vineyards for an undisclosed
sum, according to a statement released by Sebastiani.
The sale includes the Sebastiani winery, a Sebastiani tasting room and event center in downtown
Sebastiani
"They really
have exemplified a sense of heritage and history," said Honore Comfort, executive director of Sonoma County
Vintners, which represents wineries in the region. "They were always
looking to innovate and grow but have kept the business within the family. The
sale of the winery is a departure from that."
Comfort said it
was probably difficult to operate on a large scale as an independent winery, as
competition in the wine industry has increased.
"We know the
family is making the best decisions, but we
The industry has
been ripe with consolidation, following Constellation Brands