Golden Knights Owner Bill Foley Acquires Another Winery In California
By Alan Snel of LVSportsBiz.com
Vegas Golden Knights owner Bill Foley collects wineries like hardcore Golden Knights fans collect signed hockey pucks as the multi-faceted Las Vegas-based businessman with the beefy portfolio, deep pockets and love for wine has purchased the Ferrari-Carano Vineyards and Winery in Sonoma County in California.
Foley, whose winery fiefdom goes under the Foley Family Wines brand name, told the San Francisco Chronicle that the purchase price is in the $250 million ballpark. The deal includes more than 3,000 acres, including 1,200 acres of grapevines, the Chronicle reported.
Foley, majority owner of the three-year NHL Golden Knights, sometimes uses his wineries to host fans and even players’ fathers on trips to California. He also advertises his Foley Family Wines at the Knights games.
Foley’s portfolio is quite diversified, ranging from the Golden Knights and Silver Knights teams in metro Las Vegas wineries in California to restaurant concepts nationwide and a Montana golf course community. Just par for the course for the businessman who made millions of dollars from his title insurance business.
Foley likes everything about the wine business — the vineyards, the facilities and the tasting rooms. He owns 25 wineries in all. As he put it to the Chronicle, “I’m an asset guy.” He explained to the newspaper he was looking to acquire a winery that was both high-end with good brand awareness and high-volume. The purchase includes residential properties and two winery facilities, including the PreVail Mountain Winery in Alexander Valley. That winery is permitted to produce 250,000 cases and Foley plans to “expand that to 500,000,” according to the Chronicle.
In a press release, Foley said, “We are delighted to add Ferrari-Carano to our family. Their established reputation for quality wines, their dedication to responsible environmental stewardship, and their commitment to exceptional hospitality are all perfectly aligned with our priorities.”
“I’m happy to see our winery become part of a family-owned and operated company that shares our vision and core values,” added Rhonda Carano, Ferrari-Carano Founder, and CEO. “Foley Family Wines has shown that they value the individual character of each of their estate wineries. We know that the reputation we’ve worked hard to build over the last four decades is in good hands.”
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