Arnold & Porter Advises Frank Family Vineyards on $315 Million Sale to Treasury Wine Estates
Arnold & Porter’s winery transactions team advised Frank Family Vineyards, a premium Napa Valley winery, in its $315 million sale to Australia-based Treasury Wine Estates. The transaction closed on December 13, 2021. Frank Family Vineyards, run by proprietors Rich and Leslie Frank and founded in 1992, produces more than 150,000 cases of wine per year across a wide range of varietals.
TWE, one of the world’s largest wine companies, will add Frank Family Vineyards’ selection of well-known luxury wines to its portfolio of brands. The sale will also include the Frank Family tasting room in Calistoga and vineyards in Rutherford and throughout Napa County. The transaction will expand TWE’s footprint in the American wine market. The Franks will continue to own Winston Hill Vineyard in Rutherford and the Lewis Vineyard in Carneros, which supply grapes for the winery.
The Arnold & Porter team was led by San Francisco corporate and securities partner Teresa Johnson, and included associates Nate Klein and Stefan Weidemann. The team also included corporate partner Ed Deibert, partner David Reis, counsel Kathleen Wechter, and associate Kathryn Geoffroy on employment and benefits matters; partner Will Needle and associate Lauren Hoepfner on tax matters; partner Ken Neale and associate Jason Raylesberg on real estate matters; counsel Nancy Perkins on data privacy matters; and counsel Justin Hedge and associate Dylan Young on antitrust matters.