NAPA VALLEY—In the latest of three blockbuster wine country deals, Stags Leap Wine Cellars has been sold to a joint venture of Italy's Marchese Piero Antinori and Ste. Michelle Wine Estates for $185 million. Jon Bonne for the Chronicle has the story: "[Owner Warren] Winiarski was bittersweet about the sale. "There's sadness, and there's great joy," he said. "The two things can't be separated in a situation like this." The transaction is a big step down the corporate path for the renowned valley, where wineries once were strictly family enterprises. It also was just one of three major sales in the valley this week." [SF Chronicle]
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