Napa's Heitz Cellar Sold to Arkansas Billionaire Gaylon Lawrence

I don’t know what this means. Explain?

Kathleen Heitz Myers was the force behind this family operation. Her husband, George, had his own vineyard holdings, as I recall. My daughter took care of their exotic, but mostly Western style horses, at a local stable. We would have parties of 20 or so people, upstairs in the stable, and Kathleen would bring a case of rather cold Martha’s there, plus a case or 2 of the Chardonnay. I remember nearly fainting when she sat next to me and announced she was drinking EMH Black Cat. I had Martha’s in my glass. I had carefully decanted mine, previous to the party. Talk about nerves. At the end of the party I am thinking of, in particular, their wine was just sitting there…does anyone want to take it home? I was stunned, and took perhaps 3 bottles. I had actually brought the same vintage as I anticipated she would bring, as their current release has always been behind the norm.

In our small world, here, on the wine boards, where we discuss native vs. non-native yeasts, whether the floral notes are roses or violets, the memories of associations like this one stay with me longer.

Bain Capital was co-founded by one Mitt Romney, who inelegantly used the phrase “binders of women” during the 2012 presidential debates when referring to his governorship of the great state of MA and how his administration sought to hire from a more diverse talent pool.

By the way, this is a great story.

I remember Joe joking about being land rich/cash poor, and a recollection from an interview of him saying he hoped to die free of debt.

Barbara Winiarski told me forty five years ago that she loved Joe because he showed you could sell Napa cab for more than ten bucks. Good news for a family that had just started a winery.

Does $180M sound relatively low-dollar to anybody when you consider that Wagner sold Meiomi for $300M?

The obvious conclusion, I guess, is that Meiomi sells more wine than Heitz.

I was wondering the same thing.

“His family’s holding company, The Lawrence Group, operates an extensive farming enterprise. The company owns approximately 180,000 acres of cultivated land in several states, including one of Florida’s largest citrus groves.”

He has been active buying in Nashville:

https://www.bizjournals.com/nashville/blog/2016/04/steady-and-calculating-behind-gaylon-lawrence-jrs.html

Gaylon was on our firm’s advisory board for a few years when he lived in Nashville…met him a handful of times. Big buyer of land…I recall his family is among the largest owners of raw land in the Southeast. Tried to buy US Sugar IIRC several years ago. Sounds like he enjoys wine and wanted to bring into the family fold.

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Call it what you want, the fact is Heitz Cellars is no longer owned by the Heitz family, plain and simple. Heitz is now corporate! Changes are forthcoming.

Heitz Wine Cellars has been “corporate” since 1964 when they first filed Articles of Incorporation in CA. The still-active corporation filed a merger on April 18, 2018.

Which, of course, means that since the form of ownership of Heitz was a corporation (be it for reasons like taxes, limitations of liability, affording structure for investors etc.), all those wines we thought we great, really weren’t.

Mere technicalities! Corporations are people too! Don’t be such a lawyer! Shaking fist! Happy Friday :slight_smile:

I’m sad to see this. It was pretty clear from the statements that a lot of changes are on the way. I’ve always loved these wines, and I hate seeing that free tasting going away. It was such a standout thing.

Acc to the Heitz website they own 425 planted acres of vineyards in the Napa Valley plus another 600 unplanted acres. So the point about Meoimi is well taken. The deal is a bit of a bargain.

In the computer business nobody says, Our Veeblefitzer 2300X won best of show in a contest forty years ago and we’ve kept grandpa’s recipe but in the wine biz people do it all the time. I think improvements could be made at Heitz and they probably will.