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1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsSouth Korea’s Shinsegae Property bought Napa Valley’s Shafer Vineyards in February 2022 through its wholly owned U.S. subsidiary, Starfield Properties. The reported price was about $250 million, although the San Francisco Business Times gave a more precise figure of $250.3 million. The buyer’s announcement described the purchase as a way to diversify its property portfolio.
Who bought Shafer Vineyards?
The direct buyer was Shinsegae Property, a South Korean property company in the Shinsegae corporate group. Its 16 February 2022 announcement said the acquisition of Shafer Vineyards and related real estate would be made through Starfield Properties, its wholly owned U.S. subsidiary. This was a corporate acquisition—not a purchase by the South Korean government or an individual.
Shinsegae Property said the deal would diversify its property portfolio beyond domestic distribution and commercial facilities. A contemporaneous report by Maeil Business News/Pulse also described a goal of building competitiveness in South Korea’s wine market through direct production. It reported that an unnamed Shinsegae official said the company planned to make new wines on idle Shafer land; that report documents a plan, not whether it was later carried out.
How much did the winery sell for?
Most transaction accounts put the price at $250 million. Dentons, which said it advised Shinsegae Property, Maeil Business News/Pulse, and Decanter all reported that rounded amount. Decanter described it as 299.6 billion South Korean won, equivalent to $250 million in its report. The San Francisco Business Times reported $250.3 million. The sources do not explain the difference, so about $250 million is the most defensible summary.
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What did Shinsegae acquire?
The buyer’s announcement described Shafer and related real estate as part of the transaction. It also referred to vineyard holdings of about 600,000 pyeong, roughly 495 acres when converted as a land-area unit. Shafer’s current winery profile lists 240 vineyard acres. The sources do not clarify whether those figures measure the same thing; the buyer’s holdings figure should not be treated as equivalent to the profile’s vineyard-acre total.
Shafer’s official profile places the estate in Stags Leap District, Napa Valley, and says the Shafer family purchased it in 1972. The profile identifies 1978 as the first vintage, while the buyer’s 2022 announcement calls the winery founded in 1979. These are distinct source descriptions and milestones, not dates that can be reconciled from the available accounts.
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Did the Shafer family or winemaker leave after the sale?
Doug Shafer, the winery’s president at the time, said he remained at Shafer after the sale. In comments published by Decanter in February 2022, he said he would focus more on strategy and future projects. He also said winemaker Elias Fernandez and the winemaking and vineyard teams remained in place. Shafer’s current winery profile still names Fernandez as winemaker, but that does not establish the present status of every employee.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What wines does Shafer make now?
Shafer’s current profile lists five wines: Red Shoulder Ranch Chardonnay, TD-9 Cabernet Sauvignon, One Point Five Cabernet Sauvignon, Relentless (a Syrah and Petite Sirah blend), and Hillside Select Cabernet Sauvignon. The winery calls Hillside Select its flagship Cabernet Sauvignon. Vintage-specific technical details are available on Shafer’s Trade & Media page.
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- Matte-finish art print on smooth heavyweight paper with printed artwork. Unframed.
- Printed using a digital process to produce clear detail and balanced color on art paper. Suitable for display in indoor environments.
- Unframed print in a standard size compatible with many ready-made frames. Check frame opening and mat size before purchase to confirm fit.
- The artwork is printed on 10 x 14 in (25 x 36 cm) paper. The image area is slightly smaller and centered with a surrounding white border for framing.
- Each print is produced individually for consistent output and accurate color. Packaged with protective materials to help maintain condition during handling and transit.
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- Matte-finish art print on smooth heavyweight paper with printed artwork. Unframed.
- Printed using a digital process to produce clear detail and balanced color on art paper. Suitable for display in indoor environments.
- Unframed print in a standard size compatible with many ready-made frames. Check frame opening and mat size before purchase to confirm fit.
- The artwork is printed on 6 x 9 in (15 x 23 cm) paper. The image area is slightly smaller and centered with a surrounding white border for framing.
- Each print is produced individually for consistent output and accurate color. Packaged with protective materials to help maintain condition during handling and transit.
Sources
- Shinsegae Group Newsroom, 16 February 2022: buyer, subsidiary, transaction rationale, and land-area description.
- Dentons, 15 February 2022: its announcement that it advised on a $250 million acquisition; the page was not directly accessible during reporting.
- Maeil Business News/Pulse, 17 February 2022: reported price and wine-market rationale.
- Shafer Vineyards winery profile: estate history, location, acreage, winemaker, and current wines.
- Shafer Vineyards: current homepage and flagship description.
- Decanter, updated 17 February 2022: reported price and Doug Shafer’s statements on continuity.
- San Francisco Business Times, published 16 February and updated 17 February 2022: reported $250.3 million.
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