Francis Ford Coppola Winery is selling its Sonoma-based brands and wineries to Delicato Family Wines, best known for the boxed wine powerhouse Bota Box. Included in the sale are the Diamond Collection, Director’s Cut and Sofia, as well as the Francis Ford Coppola Winery and Virginia Dare Winery facilities and the Archimedes Vineyard, all located in Sonoma. Not included in the sale are Coppola’s high-end, Napa-based Inglenook and Oregon-based Domaine de Broglie wineries.
Francis Coppola will have an equity stake in Delicato Family Wines and join Delicato’s Board of Directors. The company will continue to be managed by President and Chief Executive Officer, Chris Indelicato, and Corey Beck will join Delicato’s executive leadership team as EVP, Production and Chief Winemaker.
The brand portfolio will join brands such as 1924, Three Finger Jack, Z. Alexander Brown and will be led by Bota Box and Coppola Diamond.
“Over my lifetime, Coppola has become a household name across America,” said Coppola. “What started as a dream to buy a family cottage in Napa Valley turned into a million+ case business producing iconic award-winning wines. I am proud to announce that I have found the perfect fit to take our Family winery to even greater heights. Delicato is also family-owned and shares similar core values as both companies are anchored by long-term sustainable focus and a foundation built on family values: Integrity, Respect, Quality, Accountability, Partnership, Excellence, and Community.”
“There is a strong cultural fit between our two companies, and by combining two highly complementary portfolios, we create a more diversified winery. This places us in a strong position in key growth categories to capitalize on positive market trends, drive profitable growth and create opportunities for our employees,” concluded Indelicato. “This is an exciting and significant expansion for Delicato Family Wines as we bring Francis Ford Coppola Winery and their brands under our portfolio. We look forward to leveraging Francis Ford Coppola’s creativity and fine wine capabilities that have appealed to consumers, distributors, and retailers globally, further bolstering our portfolio strategy.”
Over the next few months, Delicato and Coppola will focus on how best to combine the two companies, “effectively utilizing the best business practices and talent of both organizations to make the transition seamless for employees, suppliers, and customers alike,” says a press release.
With Inglenook and Domaine de Broglie not included in the sale, it’s safe to assume Coppola will focus his efforts on his premium wine operations.
The transaction is expected to be completed in the coming month, subject to regulatory approvals. Terms of the transaction between Delicato and Coppola were not disclosed.
J.P. Morgan Securities LLC is serving as exclusive financial advisors and Nixon Peabody LLP is acting as primary legal advisors for Francis Ford Coppola Winery.
Deutsche Bank is serving as exclusive financial advisors and Winston & Strawn LLP is acting as primary legal advisors for Delicato Family Wines.
For more information on Francis Ford Coppola Winery, head over to its official website.
For more information on Delicato, head over to its official website.
