LVMH to buy 60% of Napa Valley winery Colgin Cellars

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.

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.

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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)