June 24, 2021
Delicato Family Wines Forges Partnership with Francis Ford Coppola Winery
Two Iconic Families Come Together
Napa, CA, (June 24, 2021)
Delicato Family Wines and Francis Ford Coppola Winery today announced that they will come together under one roof, strengthening the families’ legacies as it creates the #5 supplier of all wine above $11 in the U.S. market, as well as the #5 supplier by volume across all price segments and become the #3 exporter of C.A. wines.1
Under the terms of the agreement, the Francis Ford Coppola wine portfolio and two facilities anchored in Sonoma County, the Francis Ford Coppola Winery and the Virginia Dare Winery located in Geyserville, including the Archimedes Vineyard, will join Delicato.
As a long-time leader in the wine industry, Francis Coppola will have an equity stake in Delicato Family Wines and join Delicato’s Board of Directors. His renowned innovation and influence in fine wine will be pivotal in guiding the continued growth of Delicato for years to come. 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 strong brands such as 1924, Three Finger Jack, Z. Alexander Brown and will be led by Bota Box, the fastest-growing brand in any wine segment, and Coppola Diamond, the #3 brand in the domestic super-premium category. These “must-have” brands will enable Delicato to further grow its portfolio, as well as to compete forcefully in new segments.
Francis Ford Coppola shares, “Over my lifetime, Coppola has become a household name across America. 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,” concludes Chief Executive Officer, Chris 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.
Inglenook and Domaine de Broglie Winery and vineyard will remain separately owned and run by Francis and the Coppola Family.
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.
Deutsche Bank is serving as exclusive financial advisors and Winston & Strawn LLP is acting as primary legal advisors for Delicato Family Wines.
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.
1Source: 52-weeks ended May 16, 2021. IRI total multi-outlet and convenience.