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Feature Article
While the winery and vineyards of Firestone Vineyard were sold, other parts including a beer brewery were not.
Why Firestone Vineyard Was Sold:
Adam Firestone Opens Up
In a candid interview with Adam Firestone, the former President of Firestone Family Estates, Dennis Schaefer asks him to reveal why yet another family winery was gobbled up - and what did not get sold in the transaction.
by
Dennis Schaefer
October 23, 2007
It seems to be the season for wineries and vineyards to change hands. Firestone Vineyard in the Santa Ynez Valley of Santa Barbara County is among the latest of these legacy transactions this year, which include Stag’s Leap, Duckhorn, William Hill and Davis Bynum.
Foley Wine Estates purchased the Firestone brand, winery and 380 vineyard acres surrounding the Santa Ynez Valley property from the Firestone family in August. A late inclusion in the deal, and not originally announced as part of the package, was the new Firestone Paso Robles winery, which made red wines from Paso Robles grapes in 2005 and 2006.
Adam Firestone has been running Firestone Vineyard operations since 1994.
[Photo: Robert DaFoe]The Firestone family will retain Curtis Winery, the Rock Hollow and Jarhead labels, as well as several hundred acres of vineyard land in Santa Ynez Valley and the hugely successful Firestone Walker Brewery.
Bill Foley, owner of Foley Estate Vineyard and Winery in Sta. Rita Hills, is no stranger to the Firestones; they sold Foley their former Carey Cellars in Santa Ynez Valley back in 1997, which he renamed LinCourt Vineyards. Early this year, Foley purchased the old Ashley’s Vineyard in Sta. Rita Hills, from Demetria, who had recently bought it from Fess Parker. Foley sees Firestone as the first in a series of major winery and vineyard acquisitions in California.
Firestone was founded in 1972 by Leonard Firestone and his son, Brooks and his wife, Kate. They were pioneers in grape growing in what was then a largely unproven area, but they rolled the dice anyway and became the first true estate winery in Santa Barbara County. Like any winery that’s survived thirty-five years, they’ve had their ups and downs. But with winemaker Kevin Willenborg hitting his stride and a fine viticultural team in place, Firestone is making the best wines in their history.
Son Adam Firestone, who has been running the operation since 1994, recently talked about why now was the right time, right place, and, most importantly, the right person to carry on the Firestone legacy and brand.
Foley Wine Estates purchased the Firestone brand, winery and 380 vineyard acres surrounding the Santa Ynez Valley property from the Firestone family in August. A late inclusion in the deal, and not originally announced as part of the package, was the new Firestone Paso Robles winery, which made red wines from Paso Robles grapes in 2005 and 2006.
Adam Firestone has been running Firestone Vineyard operations since 1994.
[Photo: Robert DaFoe]
Bill Foley, owner of Foley Estate Vineyard and Winery in Sta. Rita Hills, is no stranger to the Firestones; they sold Foley their former Carey Cellars in Santa Ynez Valley back in 1997, which he renamed LinCourt Vineyards. Early this year, Foley purchased the old Ashley’s Vineyard in Sta. Rita Hills, from Demetria, who had recently bought it from Fess Parker. Foley sees Firestone as the first in a series of major winery and vineyard acquisitions in California.
Firestone was founded in 1972 by Leonard Firestone and his son, Brooks and his wife, Kate. They were pioneers in grape growing in what was then a largely unproven area, but they rolled the dice anyway and became the first true estate winery in Santa Barbara County. Like any winery that’s survived thirty-five years, they’ve had their ups and downs. But with winemaker Kevin Willenborg hitting his stride and a fine viticultural team in place, Firestone is making the best wines in their history.
Son Adam Firestone, who has been running the operation since 1994, recently talked about why now was the right time, right place, and, most importantly, the right person to carry on the Firestone legacy and brand.
Dennis Schaefer (DS): Why sell the winery now? Why not five years ago? Why not five years in the future? What makes it the right time to sell now?
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