LVMH buys vineyards of excellence in Napa Valley
Rome - French bubbles land in California. The luxury brand LVMH, which has a majority stake in some of the leading French Champagne production companies, including Moet & Chandon, Dom Pérignon and Veuve Clicquot, has bought 60 percent of the Colgin Cellars vineyards in Napa Valley, California, where Ann Colgins and her husband Joe Wender have been producing high quality Cabernet and Syrah wine (selling at around USD 200 a bottle) for 25 years. The two California winegrowers will continue to hold 40 percent equity and maintain their leadership functions in the business, while LVMH will have ownership of the company. Colgin Cellars vineyards specialize in the production of four top-rated wines: Tychson Hill Cabernet Sauvignon, Cariad red, IX Estate red and IX Estate Syrah. Certain vintages of these wines, notably those between 2009 and 2010, sell from USD 175 to USD 200 per bottle. The Colgin Cellars vineyards are located at the northern end of IX Estate in the Pritchard Hill area of Napa Valley, a panoramic spot close to Lake Hennessey, untouched by the recent fires that have recently devastated California.