Napa’s Delicato Family Wines finalizes deal to buy Coppola wine portfolio

Delicato Family Wines of Napa said Monday that it finalized an acquisition of the Francis Ford Coppola wine portfolio that was announced on June 24.

Delicato acquired both the Coppola winery in Geyserville and the Virginia Dare Winery, along with its Archimedes Vineyard, as part of the transaction. The price was not disclosed but Francis Ford Coppola, the Academy Award-winning director of “The Godfather” and “Apocalypse Now,” gets an equity stake in Delicato and a seat on the company’s board.

The transaction was approved by the Federal Trade Commission on June 26.

As part of the sale, Coppola said that it would permanently release 90 workers, according to a July 1 filing with the state Employment Development Department. Prior to the deal, Coppola had employed about 380 workers, while Delicato has a workforce of about 800.

“As the winery has accelerated growth over the last five years, today earmarks the continuation of our family's work and the culmination of a shared vision to lead the industry,” said Chris Indelicato, chief executive officer of Delicato, his family-owned winery.

“The fundamentals of our business remain strong, our employee culture is thriving, and we are committed to our proven strategy focused on long-term, profitable, and sustainable growth.”

The acquisition will help Delicato compete in an increasingly competitive market, as companies are trying to get bigger in a bid for more market share. E. & J. Gallo Winery completed a blockbuster $810 million deal with Constellation Brands in January, which followed both The Duckhorn Portfolio of St. Helena and Vintage Wine Estates of Santa Rosa becoming publicly traded companies this spring.

Delicato was listed as the fifth-largest wine producer in the country in 2020 by producing 16 million wine cases, according to Wine Business Monthly magazine. Coppola was ranked No. 17 at 1.7 million cases.

Corey Beck, chief executive of the winery operations at Coppola, will stay on with Delicato as executive vice president and chief winemaker.

Beck said in June when the sale was announced that no major changes are planned for Coppola customers as they become part of Delicato’s portfolio.

You can reach Staff Writer Bill Swindell at 707-521-5223 or bill.swindell@pressdemocrat.com. On Twitter @BillSwindell.