ST. HELENA, Calif.--(BUSINESS WIRE)--Spring Mountain Vineyard (“Spring Mountain”), one of the most iconic vineyards in Napa, CA with among the largest wine libraries in the U.S., today announced it is charting a new path following its recent acquisition by affiliates of MGG Investment Group (“MGG”) and injection of new capital expected to revitalize this iconic winery.
In connection with its ownership change, Spring Mountain has new capital and greater financial flexibility to increase consumer awareness for this unique, historic property and its five decades of library wines, and drive penetration in the restaurant and export channels. Additionally, Spring Mountain unveiled numerous planned renovations to its historic 845-acre property, including replanting all 200+ acres of current vineyards, planting an additional 70 acres of new vines pending Napa County approval, a complete renovation of its 22,000 square feet of wine caves, including a hospitality center, and developing a new water reservoir on the La Perla ranch.
Spring Mountain also announced that Peter Ekman, a wine industry veteran with more than two decades of expertise in revitalizing great businesses, has been appointed Chief Executive Officer, effective immediately. In this role, Mr. Ekman will be responsible for leadership of Spring Mountain’s property, winemaking, and commercial operations as the vineyard enters its next chapter and renews its commitment to customers, visitors, the local St. Helena community, and wine enthusiasts everywhere.
As previously announced, Atelier Melka, one of Napa’s most accomplished winemaking consultants, has been retained to work closely with Mr. Ekman and his team. Atelier Melka will assist with Spring Mountain’s future vineyard replanting, winery renovation, and efforts to harvest the finest grapes and craft world class wines showcasing the unique terroir of Spring Mountain.
Mr. Ekman said, “Spring Mountain has a rich, 150-year legacy rooted in its breathtaking property and exceptional vineyards and wines, and I am proud to serve as the steward of the vineyard for the next generation. With supportive and enthusiastic new owners, greater resources, and an experienced and engaged team, we believe Spring Mountain is well positioned to build on its strong foundation and capitalize on the anticipated growth opportunities ahead. I look forward to ensuring we continue to deliver unforgettable experiences for visitors to the property and the highest quality wine to consumers worldwide.”
Maayan Koschitzky, Director of Winemaking at Atelier Melka, said, “We have been walking the vineyards and tasting the wines at Spring Mountain for a few years now and are very excited about the opportunity to work with such a historic winery and vineyard that has a proven record of producing world class age worthy wines. Atelier Melka is proud and honored to be part of this next chapter and to partner with new ownership and management to help them execute their vision.”
Mr. Ekman brings more than 25 years of wine industry experience in Napa and the greater Bay Area. He has deep institutional knowledge and a proven track record leading successful business transformations and delivering financial and operational performance. Mr. Ekman has served in executive and senior leadership roles at companies including Procter & Gamble, Wine.com, Moët Hennessy, Vivino, Cosentino Wineries, Bulgheroni Estate, and Bounty Hunter Wine & Spirits, where he collaborated with Atelier Melka, among others.
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.
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.