GI Partners, a middle market private equity firm, said it acquired Far Niente Wine Estates. Terms were disclosed.
Far Niente owns two winery facilities and 10 stand-alone vineyard properties in Napa and Sonoma. Far Niente sells its wines in the national wholesale channel through a network of distributors, sells direct-to-trade in Northern California, and sells direct-to-consumers online and through its visitor centers.
GI Partners has a history of investing in the wine industry, including its purchase of Duckhorn Vineyards in 2007. By implementing new technologies and embracing an omnichannel go to market strategy, GI and the management team have grown revenue and profits threefold. GI has also provided investment oversight for a portfolio of 26 vineyards owned by CalPERS.