Pinot Grigio stalwart Santa Margherita Wines, owned by the Marzotto family, has acquired Roco Winery in Willamette Valley, the company’s first outside of the family’s native Italy.
Per Wine Spectator, the acquisition includes Roco Winery’s winemaking facility, brand identity and current stock. The financial terms of the deal were not disclosed.
Gaetano Marzotto, chairman of Santa Margherita Gruppo Vinicolo said in a statement:
“Our affinity and admiration for the U.S. made the location of our first international winery venture a natural choice.
“The U.S. marketplace is dynamic, and we believe in the quality of Oregon wines, specifically from the Willamette Valley region.”
Roco’s founders, Rollin Soles and Corby Stonebraker, will continue to hold a minority share and sole ownership of Wit’s End vineyard under the purchase agreement.
“They looked everywhere in the United States and they chose Willamette Valley. Who am I to argue?” Soles said of the acquisition.
”I’ll keep a strong hand on the tiller. I’ll hang around as long as they let me hang around.”
Santa Margherita plans to expand on Roco Winery’s current output of 15,000 cases per year, and the company has indicated that it will continue to monitor further acquisition opportunities in the United States.
Roco Winery primarily produces Pinot Noir and Chardonnay.
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H/T: Wine Spectator.
