LVMH to buy 60% of Napa Valley winery Colgin Cellars

By Alberto Delclaux Features Dow Jones Newswires

Red Wine Being Poured In The Glass (NatashaPhoto)

LVMH Moet Hennessy Louis Vuitton SE (MC.FR) said Tuesday that it will buy a 60% stake of Colgin Cellars, a Napa Valley winery focused on red wines.

Continue Reading Below

Under the terms of the agreement, Colgin Cellars founder Ann Colgin and her husband Joe Wender will preserve a 40% stake and maintain their leadership functions, the French luxury company said.

More From FOXBusiness.com...

Financial details of the deal were not disclosed.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

November 21, 2017 08:39 ET (13:39 GMT)