Tenute del Mondo, a subsidiary of Stoli Group, has purchased 50% of Chateau Miraval – and the Miraval brand – from Angelina Jolie.
Jolie has been looking to get out of the wine business since divorcing Miraval co-owner Brad Pitt. The couple bought the Château Miraval estate in southern France in 2008 and were married there in 2014.
In July, Jolie in sought to lift temporary restraining orders put in place during the couple’s divorce proceedings, so she could sell her stake in the estate. A declaration filed by one of her lawyers in Superior Court of Los Angeles County said she wanted to remove herself from being a “disregarded business partner with her ex-husband”.
Pitt had hoped to buy his ex-wife out of Miraval, but they couldn’t reach an agreement wasn’t reached because of obstacles related to payment terms and non-compete and non-disparagement agreements.
Tenute del Mondo is co-owner (with the Frescobaldi Family) of wines such as Masseto, Ornellaia, Luce, CastelGiocondo, and owner of Achaval Ferrer and Arínzano wines.
“Miraval complements our wine offering,” said Jon Pepper, Master of Wine, Managing Director of Tenute del Mondo. “With the addition of a Rose of this calibre we are well positioned to meet the exquisite demands of both customers and partners alike.”
“We have long admired Miraval’s exceptional wines and brand. We are truly honored to do our part to uphold the integrity and commitment, as well as invest the time and passion, evidenced in both the Chateau and the Miraval brand,” said Damian McKinney, Global CEO of Stoli Group. “We are thrilled to have a position alongside Brad Pitt as curators of their extraordinary vintages.”
Stoli prepares for premium wine buying spree
McKinney added to Drinks Business that it was the first of many premium wine acquisitions for Stoli. Wine currently makes up around 15% of the company’s portfolio.
“For years, Stoli has been seen as a vodka company but now it’s more about how we are becoming an ultra-premium portfolio of wines and spirits,” he said.
“The key will be to continue to build on that, so as we see more opportunities, there will be more acquisitions to come.”