The Duckhorn Portfolio Inc. announced that it has reached an agreement to acquire Sonoma-Cutrer Vineyards from the Brown-Forman Corporation, according to a Thursday press release from the brand. The deal closed at a value of approximately $400 million in company stock and cash.
Brown-Forman will be given a 21.5 percent ownership of The Duckhorn Portfolio, a payment of $50 million in cash, and will maintain two seats on The Duckhorn Portfolio’s Board of Directors. Through the purchase, The Duckhorn Portfolio will receive the Sonoma-Cutrer brand trademarks, facilities, and the winery’s six estate vineyards that span 1,121 acres in both the Russian River Valley and Sonoma Coast appellations.
