Atelier Melka Retained to Assist in Restoring Iconic 150-Year-Old Property and Wines to Prominence
Expects to Announce New Management Team in Near Term
MGG Investment Group LP, together with its affiliated entities (collectively “MGG”), today announced the acquisition of Spring Mountain Vineyard (“Spring Mountain”), one of the most iconic vineyards in Napa, CA with among the largest wine libraries in the U.S. Under the terms of the transaction, MGG assumes ownership of Spring Mountain’s 845-acre property, including its four vineyard ranches – Miravalle and the Miravalle Estate House & winery, Chateau Chevalier, Alba, and La Perla – 20,000 square feet of wine caves, and six-decade wine library.
Since its founding in 1873, Spring Mountain has been recognized for its production of premium varietals of noble grapes and traditional Bordeaux-style blends that reflect the depth and unique characteristics of the Spring Mountain appellation. Its Cabernet Sauvignon and flagship proprietary wine, Elivette, consistently earn some of the highest marks from trusted industry publications and awards, while its vast, high-elevation property attracts visitors from around the world.
Under new ownership, Spring Mountain will have new capital and greater financial flexibility to invest in the vineyards and the winery, increase consumer awareness for this unique, historic property and its 5 decades of library wines, and drive penetration in the restaurant and export channels. Atelier Melka, one of Napa’s leading winemaking consultants, has been retained to implement enhancements designed to restore Spring Mountain’s iconic 150-year-old property and wines to prominence. MGG is finalizing a new senior management team for Spring Mountain which will be announced in the near term.
Kevin Griffin, Chief Executive Officer and Chief Investment Officer of MGG, said, “Spring Mountain is a bedrock institution of Napa Valley and its unique terroir enables it to produce some of the finest wines in the world today. While honoring Spring Mountain’s past, we look forward to charting a new path forward by focusing on operational excellence and reinvigorating our relationships with club members, customers, distributors, and vendors. We look forward to recapturing the excitement inherent in our wines and property.”
About Spring Mountain Vineyard
Spring Mountain Vineyard is a privately owned 845-acre wine estate located on the steep slopes of Spring Mountain, east of St. Helena in Napa Valley. Comprised of four unique vineyard ranches, it was first planted to Cabernet Sauvignon in 1873 and has since continued its pursuit of excellence. Spring Mountain rose to critical acclaim for its wines with its 1973 Spring Mountain Chardonnay, which placed fourth in the groundbreaking Judgment of Paris. For more information, visit www.springmountainvineyard.com.
About MGG Investment Group LP
Founded in 2014, MGG is a private investment firm that provides bespoke investment solutions to mid-size and growing lower-middle market companies. MGG works with owners and management teams to help build lasting value, address immediate needs, and solve complex situations while seeking to generate attractive risk-adjusted returns for investors irrespective of and through market cycles. For more information, visit www.mgginv.com.
Forward-Looking Statements
Statements in this press release that are not strictly historical may be “forward-looking” statements that involve risks and uncertainties or statements based on reasonable belief. Neither MGG nor Spring Mountain undertakes any obligation to update any such statements to reflect later developments. These risks and uncertainties include the companies’ ability to successfully complete on the terms and conditions contemplated, the financial impact of the proposed transactions referenced herein, the scope, duration and ultimate impacts of any global pandemic or conflict, as well as economic and currency conditions, market demand, among others.
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Contacts
Nathaniel Garnick/Sam Fisher
Gasthalter & Co.
mgginv@gasthalter.com
