AXA Millésimes has made Platt Vineyard its second acquisition in the US.
The French insurer’s wine arm has added to a portfolio that already includes the Napa Valley winery Outpost, which it bought four years ago.
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Platt Vineyard, based on the Sonoma Coast, was acquired by investment fund Russian River Partners in 2015. It produces Pinot Noir and Chardonnay wines. The vineyard consists of 275 acres, of which just under 39 acres are planted to the grapes. It has permits in place for a further 11 vineyard acres.
“After acquiring the great Cabernet vineyards of Outpost Winery at the summit of Howell Mountain in 2018, we had been looking in the United States for a vineyard of similar quality for making Pinot Noir and Chardonnay wines,” AXA Millésimes MD Christian Seely said. “We believe that the potential for making great Pinot Noir and Chardonnay wines here is immense.”
Financial terms were not disclosed.
Set up in 1987, AXA Millésimes owns vineyards in the US, France, Portugal and Hungary.
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By GlobalDataThe company’s French vineyards are Domaine de l’Arlot in Burgundy; Château Pichon Baron and Château Pibran in Pauillac; and Château Suduiraut in Sauternes.
In Portugal, AXA Millésimes owns Quinta do Noval and Quinta do Passadouro, both in the Douro. Its asset in Hungary is Disznókő in the wine-making area of Tokaj.
The move for Platt Vineyard is the latest acquisition in California’s wine industry in recent weeks. In June, Moët Hennessy struck a deal to buy Napa Valley winery Joseph Phelps Vineyards. The same month, Foley Family Wines snapped up fellow Californian winemaker Silverado Vineyards.
