Revered Bordeaux Second growth estate Chateau Cos d’Estournel has decided to make an investment in the American Wine Industry, with it’s purchase of Chateau Montelena, the 40,000 case winery that helped put California wine on the international scene in the 1976 “Judgment of Paris”. The price: A cool $120 – $150 million still unconfirmed. This is just another in the growing line of Napa Wineries being sold to European investors. Stags Leap Wine Cellars brought in a reported $185 Million last year, superseded by Duckhorn winery which garnered $250 Million. Thanks to a weak dollar, these purchases are great bargains to those wielding the currently Strong Euro.
“We have been looking for a while to purchase something in Napa Valley,” said Jean-Guillaume Prats, general manager of Cos-d’Estournel. “It’s similar to Bordeaux and we can give and take mutual knowledge and experience.”
“This is a perfect fit—a dream marriage,” said Jim Barrett, in a statement. “We could not have asked for a finer team to carry on this legacy.”
Coincidentally, the movie Bottle Shock is slated to hit the big screen August 6th. The movie recounts the famous event that helped Chateau Montelena, Stags Leap Wine Cellars, as well as other California Wineries reach superstardom.
Photo credit Flickr turbobumble