Wine

Napa’s Shafer Vineyards Sold to Korean Luxury Firm

A single of Napa’s legendary wineries is shifting palms. Doug Shafer, president of Shafer Vineyards, introduced this early morning that Shinsegae Home, a luxurious manufacturer organization based mostly in Seoul, South Korea, with office outlets, purchasing facilities, golfing resorts, motels&#xA0and other pursuits, has obtained his family’s vineyard. Whilst neither aspect disclosed specifics, the rate tag is a documented $250&#xA0million and incorporates 225 acres of vines. Shinsegae obtained the vineyard by way of its U.S. subsidiary Starfield Attributes, lnc. Shafer winemaker Elias Fernandez and the main winemaking and winery staff members will proceed with the vineyard for the foreseeable upcoming.

Doug Shafer, who also will remain on, mentioned in a assertion to longtime shoppers that he hopes the sale will make it possible for him much more time to investigate initiatives and emphasis on the matters that created him tumble in like with the wine enterprise.

“For those people who are lovers of our wines and our workforce, you may see a continuation of all the things you like about the vineyard,” he mentioned. “There may well be some new matters down the street that I feel you will like and embrace as nicely.”

John and Betty Shafer ended up pioneers in Napa’s Stags Leap District when they purchased a rugged property with old, unkempt vines in 1972, reworking it into one of Napa’s cornerstone estates. Nowadays, its 225 acres of vines are distribute more than 4 ranches (two in Stags Leap District, one particular in Oak Knoll District and one particular in Carneros). The vineyard generates close to 33,000 conditions each year, with 85 p.c hailing from those people estate vines, a rarity in present-day modern day Napa. The winery’s Relentless 2008 was Wine Spectator’s 2012 Wine of the Year. John handed absent in March 2019.

Shafer Vineyards is ideal recognised for its Hillside Decide on Cabernet, but also tends to make other Cabernets, the Relentless Syrah-Petite Sirah, Chardonnay and the new TD-nine Merlot-Cabernet mix. (Bob McClenahan)

“It can be been the privilege of a life span to have joined my father listed here as winemaker in 1983 and to have taken more than as president in 1994,” mentioned Shafer. “The Shafer hillside estate has been the website of grapegrowing and winemaking for much more than 140 yrs, and it has been an remarkable honor to act as the hottest stewards of this land and to make wine from the presents these vineyards have presented.”

Shinsegae Home is one particular of Korea’s big retail teams. In a assertion, the enterprise mentioned executives program to diversify its current serious-estate portfolio centered on domestic distribution and business services into significant-excellent abroad belongings in made nations.

“It can be been a serious enjoyment to get to know their workforce, and I am incredibly enthusiastic about this new chapter for our vineyards and vineyard,” mentioned Shafer. “I have a whole lot of self-assurance in this new workforce. Their emphasis and the extended-time period emphasis at Shafer are incredibly substantially in alignment&#x2014it truly is all about excellent. Good quality vineyards, excellent wines, excellent buyer treatment. Shafer stays in excellent palms, and if my dad and mom could be listed here for this instant, I know with no query that they would concur.”

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