Napa Valley’s Frank Family Vineyards has been acquired by Treasury Americas for $315 million.
The winery has been owned and operated for 30 years by Rich Frank, former top executive at Disney and Paramount Pictures who moved into the grape business in the early 1990s. The acquisition covers the Calistoga, Calif.-based winery, brand and vineyard holdings.
The acquisition includes the Frank Family Tasting Room in Calistoga, Calif., the Benjamin Vineyard in Rutherford, the S&J Vineyard in Capell Valley, and a portfolio wines with retail price points ranging from $38 to $225 a bottle. Todd Graff, Frank Family winemaker and general manager, will remain with Frank Family Vineyards after closing.
Frank and his wife, Leslie Frank, will maintain the ownership of Winston Hill Vineyard in Rutherford and the Lewis Vineyard in Napa. Both vineyards will source grapes for the Frank Family reserve tier after the sale. The deal is expected to close next month.
“The acquisition of Frank Family Vineyards represents an outstanding addition to the Treasury Americas brand portfolio and is another important step towards our ambition of becoming the premium wine market leader in the Americas,” said Ben Dollard, president of Treasury Americas, an offshoot of Australia’s Treasury Wine Estates. “Rich, Leslie and the entire Frank Family Vineyard team have built an outstanding legacy that we are excited to nurture for years to come. We are thrilled that Rich and Leslie will continue to be very involved and welcome the FFV team to Treasury Wine Estates.”
Frank, who is a former Television Academy president and the father of Amblin TV president Darryl Frank, said the success of the winery has been gratifying for his family.
“Leslie and I look forward to continuing to be a part of the next chapter of Frank Family Vineyards, a business we have spent nearly three decades cultivating into a beloved luxury wine brand,” Rich Frank said. “We have prided ourselves on creating a family atmosphere among our staff and our guests and know this legacy will carry on. We, along with our team, are excited to remain actively involved with Frank Family, while also taking on new leadership roles with Treasury Americas.”