Red wine producer Colgin Cellars has agreed to sell a major equity to the French company LVMH Group.

As per the terms of the deal, Colgin Cellars’ founder Ann Colgin and her husband Joe Wender have agreed to sell a 60% stake to the LVMH Group, retaining 40% equity in the business and maintaining their leadership functions.

Colgin said: “After a social introduction to Arnault several months ago and discussions with the LVMH team, I realised that I could not find a better partner for Colgin Cellars to preserve our founding spirit and our exquisitely handcrafted red wines, into the future.

“We are happy to join the LVMH Group to continue to offer our loyal customers the unique and high-end experiences we’ve been creating for them, for over a quarter of a century.”

For more than two decades, Colgin Cellars has been creating and distributing wines produced at its winery in Napa Valley.

“The winery distributes to high-end restaurants and retailers in the US, as well as more than thirty countries worldwide.”

Its product range includes Tychson Hill Cabernet Sauvignon, Cariad Napa Valley Red Wine, IX Estate Napa Valley Red Wine, and IX Estate Syrah.

Located at the northern end of IX Estate in the Pritchard Hill area of Napa Valley, the winery distributes to high-end restaurants and retailers in the US, as well as more than thirty countries worldwide.

LVMH chairman and CEO Bernard Arnault said: “We share with Colgin Cellars the same desire to offer the very best quality products.

“I am therefore delighted to welcome Colgin’s unique heritage into LVMH, reaffirming our strategy of selective acquisition of the best existing terroirs, and enriching our collection of iconic wines such as Château Cheval Blanc, Château d’Yquem, or Domaine du Clos des Lambrays.”