Diageo has so far declined to comment publicly on Chalone Vineyard, with media reports quoting unnamed company spokespeople confirming the sale. It is unclear what price Diageo is looking to achieve with the sale.
Diageo purchased the Californian winery for $260 million (£170m) in 2004, when current CEO Ivan Menezes led the company’s operations in North America. It’s sales went from 30,000 cases to 200,000 cases just a matter of years, but in 2014 they stood at 166,000 cases, down 15%. (article continues)