Private equity firm J.W. Childs Associates has acquired majority stake in California Pinot Noir producer Kosta Browne from The Vincraft Group.
The financial terms of the transaction have not been disclosed.
Vincraft acquired its stake in the winery in 2009 at around $40m.
As part of the deal, Kosta Browne's original partners Dan Kosta, Michael Browne and Chris Costello will retain a 40% ownership stake and will continue to lead the operations.
Commenting on the acquisition, Kosta Browne partner Dan Kosta said: "We have a vision of winemaking, farming and culture that is bolstered by the support of key stakeholders. Now we have a new stakeholder that is taking the baton. This is the key to progress: Partners who understand our original vision."
The winery currently produces over 20,000 cases of Pinot and a smaller amount of Chardonnay, with plans to ramp up production over the future.
It also intends to purchase or lease new vineyards, specifically in the Green Valley area of the Russian River Valley.
Image: Kosta Browne intends to purchase or lease new vineyards. Photo: courtesy of satit_srihin / freedigitalphotos.net.
