Premium property deal announced in joint press release
One big Healdsburg winery is changing hands to an even bigger winery and it is not Gallo or Constellation Brands. Foley Family Wines, led by founder and CEO Bill Foley, announced the purchase of Ferrari-Carano Vineyards and Winery. The deal includes 1,200 acres of premium vineyards a showcase winery property in upper Dry Creek Valley. The property was established in 1981 by Don and Rhonda Carano. The winery includes a large on-site processing plant, coveted by Foley for his expanding winemaking empire that includes 14 California wineries, plus others in Oregon, New Zealand and Washington. Foley owns 3,500 acres of vineyards.
No sale price was reported, but an article in Wine Spectator estimated it to be in the range of $250 million
“We are delighted to add Ferrari-Carano to our family,” said Foley in a press release announcing the transaction on June 9. “Their established reputation for quality wines, their dedication to responsible environmental stewardship, and their commitment to exceptional hospitality are all perfectly aligned with our priorities.”
“I’m happy to see our winery become part of a family-owned and operated company that shares our vision and core values,” said Rhonda Carano, quoted in the same press release. “Foley Family Wines has shown that they value the individual character of each of their estate wineries. We know that the reputation we’ve worked hard to build over the last four decades is in good hands.”
Don Carano died in 2017. The couple also owned Reno-based El Dorado Resort and Casino and the Vintner’s Inn and John Ash & Co Restaurant in Santa Rosa.
Foley’s other holdings in Sonoma County includes Sebastiani, Lancaster Estate in Alexander Valley and Chalk Hill in the Chalk Hill AVA. He also owns the boutique Hotel Les Mars in downtown Healdsburg. Foley is the majority owner of the NHL hockey franchise, the Golden Knights of Las Vegas. Before amassing his wine country empire, Foley earned a fortune in Wall Street investments, leading Fidelity National Financial and Black Knight Financial Services, and vice chairman of Fidelity National Information Services Inc.
