PlumpJack Group buys Napa mountain vineyard

The PlumpJack Group, whose ownership includes Lt. Gov. Gavin Newsom, announced on Thursday it purchased the Ladera Vineyards winemaking facility and 82-acre vineyard atop Howell Mountain in Napa County.

The group’s CADE Estate Winery in Angwin will use Ladera’s facility and its 74 acres of cabernet sauvignon and 3 acres of sauvignon blanc to increase production of its well-regarded wines, which retail from $32 to $98 a bottle.

The purchase price was not disclosed, but industry sources put it close to $50 million.

The company is not acquiring the Ladera Vineyards wine label from proprietors Pat and Anne Stotesbery. Ladera will continue in the future to source grapes from the vineyard, which features a rich volcanic soil that is low in nutrients and high in minerals at an elevation of more than 1,600 feet.

“While we have loved our role as the stewards of this special place, because our children have decided to pursue careers outside of wine, our Howell Mountain home had grown a bit big for us,” Pat Stotesbery said in a statement. His winery was represented by International Wine Associates in the deal.

Stotesbery said in an interview that Ladera has been downsizing production in recent years to keep the business more manageable, targeting a boutique level of 3,000 to 7,000 cases annually. He will be looking to purchase a winery in the future.

The PlumpJack Group began in 1992 when Newsom, a former San Francisco mayor, founded his first wine store on Fillmore Street. It also has ownership in restaurants, bars, event spaces and hotels.

The company, which has grown to include partners John Conover and Gordon Getty, has focused on producing high-end estate wines from wineries in specific Napa County regions: PlumpJack Winery in Oakville; Odette Winery in Stag’s Leap; and CADE Estate on Howell Mountain, which will be expanded under the recent purchase. Each operate with their own winemaker.

In an interview, Conover said the goal is to provide luxury wine showcased from different Napa regions, offering consumers a wider array of options than they could get from other boutique vintners. For example, Odette’s cabernet is known for its cherry and chocolate notes, while CADE is more black fruit.

It’s also known as a first-mover business in the industry. PlumpJack was the first in the Napa Valley to adopt screw caps and CADE was the first one in the valley to be fully certified as a LEED (Leadership in Energy and Environmental Design) gold winery.

“The social conscience runs through every aspect of our winery,” Conover said.