Wine
Half of U.S. Wineries Might Be Sold in the Next Five Years
The Great Winery Sell-off of 2016 was just the beginning, both in the U.S. and abroad.
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When billionaire Stan Kroenke, owner of Napa cult winery Screaming Eagle and a slew of sports teams (including the L.A. Rams), bought a majority stake in December in iconic estate Bonneau du Martray in Burgundy, France, shock waves ricocheted around the wine world. The historic property has belonged to the le Bault de la Moriniere family since the French Revolution. Its grand cru Corton-Charlemagne is one of the planet’s great white wines.
But that was only one of many high-profile wineries and vineyards to trade hands last year. In California and Oregon, more than 35 were sold.