Paul Hobbs, founder of Paul Hobbs Winery, announced the purchase of the 90-acre Tourmaline Vineyard located in Napa Valley's new Coombsville AVA. The property was first planted to Bordeaux varietals over a decade ago, and has been a source for producers such as Cardinale, Merus, Chappellet and Paul Hobbs Winery. Zepponi & Company, the global wine industry mergers and acquisitions advisory firm, served as the exclusive financial advisor to GI Partners and negotiated the sale to Paul Hobbs Winery.
Located off of East Imola Avenue, southeast of the town of Napa, the Tourmaline Vineyard is situated on gently slopped terrain. The property has 63 acres of Cabernet Sauvignon, Merlot, Cabernet Franc and Petit Verdot vines. The soils are comprised of Guenoc rock outcrop complex, Haire loam, Haire clay loam and Sobrante loam. The Coombsville region is known for its cool Region II climate which allows for an extended growing season, resulting in muscular and structured wines with deep color. Since becoming an AVA in late 2011, producers have been permitted to list Coombsville on the labels of new bottlings, resulting in increased exposure and cachet within the wine industry.
The new vineyard is Paul Hobbs Winery's first acquisition in the Napa Valley. His holding currently owns several Chardonnay and Pinot Noir vineyards in the Russian River Valley, including the Katherine Lindsay estate vineyard in Sebastopol, named after Paul's beloved great-grandmother, which is also home to the winery.
"Tourmaline is an exceptional vineyard with a history of producing high-quality fruit," says Hobbs. "I like Coombsville due to the distinctive soils, including Guenoc rock outcrop complex and Sobrante loam, and reputation for growing quality Cabernet Sauvignon. I'm honored to bring the Tourmaline Vineyard into our family of vineyards."
"Paul Hobbs has a rich history of making wines true to the characteristics of the Tourmaline site, and we look forward to enjoying the wines for years to come," said Magnuson.
About Paul Hobbs Winery
Paul Hobbs Winery focuses on meticulous vineyard management followed by minimally-invasive winemaking techniques to produce wines that express their vineyard origins with finesse, complexity and authenticity. Paul Hobbs wines are fermented with native yeasts, aged in French oak, and bottled unfined and unfiltered. Paul Hobbs is highly regarded for his ability to identify exceptional vineyards, and for his pioneering spirit in working innovatively with new and historical sites and regions in California, Argentina, Chile, France and Armenia. In addition to working as a consultant for wineries worldwide, his wineries include: Paul Hobbs Winery, CrossBarn Winery and Viña Cobos.
About GI Partners
GI Partners, headquartered in Menlo Park, CA, is a private equity investment firm with approximately $8.5 billion of capital under management from leading institutional investors in the U.S., Europe, Asia and the Middle East. The firm focuses on asset-intensive, middle-market businesses and portfolios of assets located in North America. Key sectors of focus include technology, healthcare, asset-backed wine, leisure and retail, and financial and real estate services. Across all of its investments, GI Partners seeks to identify operating companies with market leading positions and establish a partnership orientation with management to drive value creation and growth through fundamental operational enhancement. For more information about GI Partners, visit www.gipartners.com.