Beringer Wine Estates Purchases Castello di Gabbiano.

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NAPA, Calif.--(BUSINESS WIRE)--Dec. 20, 2000

Beringer Wine Estates today announced it has signed an agreement to purchase Castello di Gabbiano from its current owners, Rino and Raynelle Arcaini. Included in the sale of this 900 year-old Tuscan wine estate is the historic Castello (castle) and surrounding property, which includes guest cottages, an ancient wine cellar, a modern winery, and 254 acres of land. One hundred and twenty acres are planted in vines, including Sangiovese, Merlot, and Cabernet Sauvignon. Beringer Wine Estates, which has imported Gabbiano wines into the U.S. since 1994, also announced it has purchased "Cerbaiola," a fifty-seven acre property located in Chianti Classico, about ten miles from Castello di Gabbiano. Currently, there are fifteen acres of vineyard planted to Sangiovese, with plans to plant another ten acres in the future. Terms of the agreements are not being disclosed.

"Castello di Gabbiano is one of the oldest winemaking estates in a highly regarded growing region with a very long and rich tradition of wine production," commented Beringer Wine Estates Chairman and CEO Walt Klenz. "Italian imports are enjoying tremendous success in the U.S., and as our relationship with the Arcainis evolved, purchasing the Castello seemed like a natural progression from importers to guardians of the property."

Rino and Raynelle Arcaini, who acquired the estate in 1981, have spent the last two decades restoring the historic buildings, improving the vineyards, and building a modern winery. Rino Arcaini, who has been instrumental in Gabbiano's success, will remain active in management over the next three years. "I intend to lend my 20 years of experience toward the smooth transition of Castello di Gabbiano into its next phase," says Rino.

In addition, Giancarlo Roman will remain as winemaker at Castello di Gabbiano; Ed Sbragia, winemaster for Napa Valley's Beringer Vineyards and son of an Italian (Lucca) immigrant family, will continue to work closely with Roman as he has done for the last several years.

"My goal in 1981 was to take this almost bankrupt winery and transform it into a thriving one," Rino adds. "I succeeded to such an extent that it no longer fits my family's lifestyle. In working with Beringer, we found ourselves associated with a very high-energy, cutting-edge company. Their expertise and keen interest in our winery has made us feel secure about the winery's future. We are confident that with a Beringer flag waving atop Gabbiano's highest tower, even greater glories are sure to follow."

Castello di Gabbiano, in the San Casciano Val di Pesa commune of Italy's Chianti Classico zone, dates back to 1100 AD when the prominent Bardi family of Florence built a defense tower to protect the important trade route between Siena and Florence. In 1124, they began construction of the wine cellar. In 1408, when the Bardi's fortunes suffered, they sold the Castello to the powerful Soderini family of Florence.

Beringer Wine Estates, a division of Foster's Brewing Group of Australia, owns six award-winning California wineries including Beringer Vineyards, Chateau St. Jean, Chateau Souverain, Meridian Vineyards, Stags' Leap Winery, and St. Clement Vineyards. The wine company owns or controls over 10,200 acres of vineyard land, all in the coastal regions of California.

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