Joseph Phelps Vineyards has sold its Le Mistral wine brand, along with its 40 acres of Syrah and Grenache in California's Monterey County, to Randy Pura and Ventana Vineyards for an undisclosed amount, according to an article in Wine Spectator. The change in ownership becomes official with the 2007 vintage, currently in barrel.
The winery, however, denies it is for sale despite rumors. Instead, Joseph Phelps Vineyards claims it is selling Le Mistral as a part of a plan to re-associate the Phelps brand with Napa Valley Cabernet and Bordeaux-style blends.
"The company is very firmly under family control. Anytime there is change in a company, rumors will pop up. They are not true and the family has every intention of remaining in control," chairman Bill Phelps said.
Wine & Spirits Daily