The deal marries the two largest wineries in Lake County, Calif. For an undisclosed price, Shannon Ridge is getting the Steele brand, 23-acre property, a 6,000-barrel capacity warehouse and 2,500 tons of crush capacity. Terms weren’t disclosed.
Meanwhile, Bill Foley has raised a total of $2.3 billion to fund a new blank-check company. Blank-check companies are investment pools where the target is not announced.
In addition to substantial wine interests, Foley also owns the NHL’s Vegas Golden Knights, and is chairman of commercial data and analytics firm Dun & Bradstreet and title insurance giant Fidelity National Financ