"Heitz Wine Cellars, one of Napa Valley’s leading wineries, is being purchased by Arkansas Billionaire Gaylon M. Lawrence Jr.
Lawrence serves as a director of Tennessee Bank & Trust, is principal investor in The Lawrence Group, a 75-year-old farming operation, and serves on about a dozen boards, according to Bloomberg news.
One source speculated that the purchase price could be as high as $180 million.
In a joint statement with Kathleen Heitz Myers, Mr. Lawrence said, “I’ve enjoyed coming to the Napa Valley for some time and have long admired the wine industry from afar. Our family was fortunate to have an extraordinary opportunity to acquire such a remarkable family business with Heitz Cellars. We’re very excited about the winery’s bright future…”
Heitz Wine Cellars, one of Napa Valley’s leading wineries, is being purchased by Arkansas Billionaire Gaylon M. Lawrence Jr.
Lawrence serves as a director of Tennessee Bank & Trust, is principal investor in The Lawrence Group, a 75-year-old farming operation, and serves on about a dozen boards, according to Bloomberg news.
One source speculated that the purchase price could be as high as $180 million.
Another indicated that Martha’s Vineyard isn’t included in the transaction.
In a joint statement with Kathleen Heitz Myers, Mr. Lawrence said, “I’ve enjoyed coming to the Napa Valley for some time and have long admired the wine industry from afar. Our family was fortunate to have an extraordinary opportunity to acquire such a remarkable family business with Heitz Cellars. We’re very excited about the winery’s bright future.”
I am not sure who this Gaylon M. Lawrence, Jr. is? but one thing I do know is that Heitz Cellars is no longer be a family owned business. I still remember my first tasting of the 1985 Martha’s Vineyard at Jim Gallagher’s in San Francisco, it was complex, deep and polished. Unfortunately things will likely change.
There’s a contract now, but yes, it’s still owned by the May family. As you may be aware, Tom May passed away earlier this year. I had a great time interviewing him and the Heitz family for Decanter in 2017. Seems more poignant now.
Some terrific vineyards with this deal - had the pleasure of using both Inkgrade and Trailside in some past vintages of our Napa cab (now 74-41). Reports are the deal is for upwards of $180 million but no knowledge if that is accurate.