Duckhorn​ ​Wine​ ​Company​ ​Acquires​ ​Central Coast​ ​Icon​ ​Calera​ ​Wine​ ​Company

NAPA​ ​VALLEY,​ ​Calif.​ ​–​ ​August​ ​15,​ ​2017​–​ ​Duckhorn​ ​Wine​ ​Company (“DWC”),​ ​which​ ​includes​ ​Duckhorn​ ​Vineyards,​ ​Goldeneye,​ ​Paraduxx, Migration,​ ​Decoy​ ​and​ ​Canvasback,​ ​announced​ ​today​ ​that​ ​it​ ​has​ ​acquired Calera​ ​Wine​ ​Company​ ​(“Calera”).​ ​Founded​ ​by​ ​Josh​ ​Jensen​ ​in​ ​1975,​ ​Calera played​ ​a​ ​pivotal​ ​role​ ​in​ ​establishing​ ​Pinot​ ​Noir​ ​as​ ​one​ ​of​ ​North​ ​America’s great​ ​varietal​ ​wines,​ ​and​ ​helped​ ​to​ ​establish​ ​the​ ​Central​ ​Coast​ ​as​ ​one​ ​of the​ ​New​ ​World’s​ ​most​ ​exciting​ ​wine​ ​regions.​ ​Hailed​ ​as​ ​a​ ​“Pinot​ ​Pioneer”​ ​on the​ ​cover​ ​of​ ​​Wine​ ​Spectator,​ ​​and​ ​referred​ ​to​ ​as​ ​“California’s Romanée-Conti”​ ​in​ ​another​ ​premier​ ​wine​ ​publication,​ ​Calera​ ​is​ ​one​ ​of California’s​ ​most​ ​acclaimed​ ​Pinot​ ​Noir​ ​producers,​ ​and​ ​has​ ​been​ ​named​ a​ ​“Top​ ​100​ ​Winery”​ ​by Wine​ ​&​ ​Spirits​​ ​four​ ​times​ ​in​ ​the​ ​past​ ​decade.​ ​The​ ​sale​ ​includes​ ​the​ ​Calera​ ​winery,​ ​time-honored brand,​ ​tasting​ ​room,​ ​estate​ ​vineyards,​ ​and​ ​all​ ​inventory​ ​and​ ​assets.

“Like​ ​our​ ​own​ ​founders,​ ​Dan​ ​and​ ​Margaret​ ​Duckhorn,​ ​Josh​ ​is​ ​a​ ​visionary​ ​and​ ​pioneer​ ​who​ ​has spent​ ​more​ ​than​ ​four​ ​decades​ ​shaping​ ​the​ ​modern​ ​American​ ​palate​ ​for​ ​luxury​ ​wines.​ ​What​ ​he has​ ​achieved​ ​at​ ​Calera​ ​has​ ​been​ ​nothing​ ​short​ ​of​ ​remarkable,”​ ​said​ ​Alex​ ​Ryan,​ ​president​ ​and CEO​ ​of​ ​DWC.​ ​“Calera​ ​is​ ​one​ ​of​ ​the​ ​world’s​ ​great​ ​wineries,​ ​and​ ​we​ ​will​ ​ensure​ ​that​ ​Josh’s​ ​legacy of​ ​quality​ ​and​ ​excellence​ ​will​ ​continue​ ​to​ ​flourish​ ​for​ ​decades​ ​to​ ​come.​ ​For​ ​us,​ ​this​ ​is​ ​a​ ​fantastic opportunity​ ​to​ ​establish​ ​a​ ​presence​ ​on​ ​the​ ​Central​ ​Coast​ ​with​ ​one​ ​of​ ​the​ ​region’s​ ​most​ ​iconic wineries.”

Calera​ ​will​ ​continue​ ​to​ ​produce​ ​its​ ​acclaimed​ ​portfolio​ ​of​ ​wines​ ​at​ ​its​ ​seven-level,​ ​gravity-flow winery​ ​in​ ​Hollister,​ ​California.​ ​All​ ​key​ ​personnel,​ ​including​ ​Winemaker​ ​Mike​ ​Waller,​ ​will​ ​remain

with​ ​the​ ​winery.​ ​Jensen,​ ​who​ ​is​ ​73,​ ​will​ ​continue​ ​to​ ​remain​ ​involved​ ​at​ ​Calera,​ ​and​ ​will​ ​join​ ​the Duckhorn​ ​Wine​ ​Company​ ​Board​ ​of​ ​Directors,​ ​where​ ​he​ ​will​ ​serve​ ​alongside​ ​his​ ​longtime​ ​peer, Dan​ ​Duckhorn.

“Calera​ ​is​ ​my​ ​life’s​ ​work.​ ​In​ ​this​ ​era​ ​of​ ​industry​ ​consolidation,​ ​it​ ​was​ ​vital​ ​to​ ​me​ ​that​ ​I​ ​choose​ ​a partner​ ​that​ ​not​ ​only​ ​shares​ ​the​ ​values​ ​that​ ​have​ ​always​ ​defined​ ​Calera,​ ​but​ ​that​ ​also​ ​has​ ​the market​ ​presence​ ​to​ ​provide​ ​our​ ​wines​ ​a​ ​continued​ ​strong​ ​and​ ​secure​ ​route​ ​to​ ​market,”​ ​said Jensen.​ ​“Duckhorn​ ​is​ ​one​ ​of​ ​the​ ​most​ ​respected​ ​luxury​ ​wine​ ​companies​ ​in​ ​the​ ​world,​ ​and​ ​for good​ ​reason.​ ​They​ ​have​ ​integrity,​ ​and​ ​they​ ​are​ ​absolutely​ ​focused​ ​on​ ​making​ ​great​ ​wines.​ ​I’m proud​ ​to​ ​be​ ​entrusting​ ​Calera​ ​to​ ​their​ ​expert​ ​hands.”

“Duckhorn​ ​and​ ​Calera​ ​are​ ​both​ ​innovators​ ​and​ ​leaders​ ​that​ ​have​ ​spent​ ​decades​ ​building​ ​the trust​ ​and​ ​respect​ ​of​ ​their​ ​customers​ ​and​ ​industry​ ​partners,”​ ​said​ ​Jamie​ ​O’Hara,​ ​president​ ​of​ ​TSG Consumer​ ​Partners,​ ​which​ ​owns​ ​DWC.​ ​“Calera​ ​will​ ​benefit​ ​from​ ​the​ ​strength​ ​of​ ​Duckhorn’s sales​ ​and​ ​marketing​ ​platform,​ ​its​ ​phenomenal​ ​distributor​ ​network,​ ​including​ ​its​ ​powerful California-direct​ ​model,​ ​and​ ​a​ ​best-in-class​ ​management​ ​team​ ​that​ ​will​ ​continue​ ​building​ ​on​ ​the legacy​ ​established​ ​by​ ​Josh.​ ​For​ ​Duckhorn,​ ​this​ ​is​ ​an​ ​opportunity​ ​to​ ​add​ ​one​ ​of​ ​America’s​ ​great wineries​ ​to​ ​a​ ​portfolio​ ​that​ ​already​ ​includes​ ​some​ ​of​ ​the​ ​most​ ​respected​ ​wineries​ ​in​ ​the​ ​United States.”

In​ ​addition​ ​to​ ​the​ ​winery​ ​and​ ​tasting​ ​room,​ ​the​ ​sale​ ​includes​ ​Calera’s​ ​renowned​ ​Selleck,​ ​Jensen, Reed,​ ​Mills,​ ​Ryan​ ​and​ ​de​ ​Villiers​ ​estate​ ​vineyards​ ​in​ ​the​ ​Mt.​ ​Harlan​ ​AVA.​ ​Totaling​ ​85​ ​planted acres,​ ​these​ ​vineyards​ ​are​ ​between​ ​2,200​ ​and​ ​2,500​ ​feet​ ​above​ ​sea​ ​level,​ ​and​ ​feature​ ​the limestone-rich​ ​soils​ ​that​ ​originally​ ​drew​ ​Jensen​ ​to​ ​this​ ​spot​ ​in​ ​the​ ​Gavilan​ ​Mountains,​ ​100​ ​miles south​ ​of​ ​San​ ​Francisco.​ ​With​ ​plantings​ ​dating​ ​back​ ​to​ ​1975,​ ​these​ ​vineyards​ ​feature​ ​some​ ​of​ ​the oldest​ ​vines​ ​in​ ​the​ ​region,​ ​and​ ​are​ ​the​ ​source​ ​for​ ​Calera’s​ ​renowned​ ​single-vineyard​ ​wines.

While​ ​vineyard​ ​and​ ​winemaking​ ​operations​ ​will​ ​remain​ ​unchanged​ ​at​ ​Calera,​ ​the​ ​winery​ ​will benefit​ ​from​ ​leveraging​ ​the​ ​sales​ ​and​ ​marketing​ ​experience​ ​of​ ​DWC,​ ​which​ ​maintains​ ​an

in-house​ ​sales​ ​team​ ​of​ ​more​ ​than​ ​50​ ​people,​ ​with​ ​placements​ ​in​ ​more​ ​than​ ​30,000​ ​accounts throughout​ ​the​ ​United​ ​States,​ ​and​ ​in​ ​50​ ​countries​ ​around​ ​the​ ​world.

International​ ​Wine​ ​Associates​ ​(IWA)​ ​served​ ​as​ ​the​ ​exclusive​ ​advisors​ ​to​ ​and​ ​represented Calera​ ​Wine​ ​Company​ ​in​ ​this​ ​transaction.

About​ ​Duckhorn​ ​Wine​ ​Company

Duckhorn​ ​Wine​ ​Company​ ​has​ ​helped​ ​set​ ​the​ ​standard​ ​for​ ​American​ ​fine​ ​wine​ ​for​ ​four​ ​decades. Founded​ ​by​ ​Dan​ ​and​ ​Margaret​ ​Duckhorn​ ​with​ ​the​ ​launch​ ​of​ ​Duckhorn​ ​Vineyards​ ​in​ ​1976,​ ​the Duckhorn​ ​portfolio​ ​has​ ​evolved​ ​to​ ​include​ ​Goldeneye,​ ​Paraduxx,​ ​Migration,​ ​Decoy​ ​and Canvasback,​ ​each​ ​with​ ​its​ ​own​ ​dedicated​ ​winemaker.​ ​With​ ​more​ ​than​ ​600​ ​acres​ ​of​ ​acclaimed estate​ ​vineyards,​ ​along​ ​with​ ​grapes​ ​from​ ​the​ ​finest​ ​growers,​ ​each​ ​winery​ ​has​ ​its​ ​own​ ​focused winegrowing​ ​program​ ​from​ ​which​ ​to​ ​make​ ​its​ ​wines.​ ​Duckhorn​ ​Wine​ ​Company​ ​wines​ ​are available​ ​throughout​ ​the​ ​United​ ​States,​ ​on​ ​five​ ​continents,​ ​and​ ​in​ ​over​ ​50​ ​countries.​ ​For​ ​more information,​ ​visit​ ​​Duckhorn.com​.

About​ ​Calera​ ​Wine​ ​Company

In​ ​1975,​ ​taking​ ​his​ ​cue​ ​from​ ​the​ ​great​ ​domaines​ ​of​ ​Burgundy,​ ​which​ ​have​ ​grown​ ​grapes​ ​in limestone-rich​ ​soils​ ​for​ ​centuries,​ ​Josh​ ​Jensen​ ​founded​ ​Calera​ ​in​ ​the​ ​Gavilan​ ​Mountains​ ​of California’s​ ​Central​ ​Coast.​ ​His​ ​goal​ ​was​ ​to​ ​create​ ​wines​ ​unique​ ​to​ ​the​ ​world,​ ​but​ ​in​ ​the​ ​style​ ​of the​ ​greatest​ ​wines​ ​of​ ​France.​ ​Today,​ ​Calera’s​ ​wines​ ​still​ ​express​ ​this​ ​pioneering​ ​spirit,​ ​and​ ​are revered​ ​the​ ​world​ ​over​ ​for​ ​their​ ​elegance,​ ​complexity​ ​and​ ​terroir-driven​ ​character.​ ​For​ ​more information,​ ​visit​ ​​Calerawine.com​.