California-based pinot noir producer, Kosta Browne, announced it has acquired Cerise Vineyards – an Anderson Valley, California-based vineyard with 60 acres planted in Pinot Noir and Chardonnay.
Founded in 1997 by Dan Kosta and Michael Browne, who were later joined by Chris Costello in 2001, Kosta Browne has grown to be an industry leader focusing on the production of new world Pinot Noirs. Offering products only twice a year, in the spring and fall, Kosta Browne sells its wines directly to consumers, who wait an average of 18 to 24 months to receive their wine.
This purchase is the first move Kosta Browne has made since it was acquired by Waltham, Massachusetts-based private equity firm, JW Childs, in January 2015 for an undisclosed amount. Under the terms of the deal, JW Childs acquired a majority stake in the business, while the three primaries of the company, Dam Kosta, Michael Browne, and Chris Costello retained 40 percent.
“We are making some of our best wines yet, but still believe we have a long way to go toward achieving our vision for California Pinot Noir,” said winemaker and founder Michael Browne in a press release announcing the JW Childs deal. “I’ve known John Childs for several years…and I know that he and his team share the same passion for our unwavering commitment to quality and investing to support the growth of our business.”
Located in California’s Anderson Valley, Cerise Vineyards also includes Demuth and Knez Vineyards that range in elevation from 700 feet to 1,700 feet above sea level.
“This is an extraordinarily exciting next step for us as we approach our 20th vintage,” said Browne in a statement. “[It] marks a significant expansion of our estate holdings, giving us the opportunity to apply our winemaking approach to a distinctive and highly regarded terroir outside of Sonoma County.”
When asked by Wine Spectator what drove the decision to acquire Cerise, Scott Becker, president and CEO of Kosta Browne said, “It checked all of our boxes for making wines that reflect the place they come from, from the extremely cool climate to the soil, elevation and southwest-facing exposure—it offers us something distinct.”
Realizing that as Pinot Noir’s popularity grows and the supply of high-quality grapes tightens, owning and actively farming their own vineyards will be a priority for Kosta Browne, according to Becker.
“Fine wine is fundamentally a land game and you must have the best sites.”
—
Lynda Kiernan