Spring Mountain Vineyard in St. Helena was among the high-placing wines at the 1976 Judgement of Paris.
Spring Mountain Vineyard has been acquired by the MGG Investment Group, a New York-based hedge fund. The change in ownership comes after a lengthy bankruptcy proceeding, which culminated in MGG’s winning bid of $42 million when the winery’s assets were put to auction in March. The privately held Spring Mountain Vineyard had previously defaulted on a $185 million loan from MGG, according to court records.
The iconic 845-acre property, located at 2805 Spring Mountain Road in St. Helena, made a name for itself at the Judgement of Paris tasting in 1976—where its chardonnay placed fourth, finishing ahead of several esteemed French wines. Overall, Napa wines topped both the white and red categories that year, bringing Napa’s wine industry to international prominence.
The Spring Mountain estate was also featured in the long-running 1980s soap opera, Falcon Crest, which followed the feuding factions of a wealthy winemaking family in a California region modeled after the Napa Valley. Chief investor Jacob Safra acquired much of the property in the early 1990s, which includes four ranches, a wine library and 20,000 square feet of wine caves.
Despite its links to pop culture, Spring Mountain couldn’t overcome financial struggles spurred on by the pandemic and the 2020 Glass Fire, which destroyed a number of buildings on the estate. Spring Mountain Vineyard defaulted on its debt in 2022 and filed for bankruptcy.
With its capital, the new investment group plans to replant more than 200 acres of the vineyard. They are also seeking approval from Napa County to further the property by 70 more acres. Additionally, the wine caves on the property will be undergoing renovation with the addition of a new hospitality center.
According to a press release about the sale, Peter Ekman has been named chief executive officer of the new winery with Atelier Melka as a vineyard consultant. Ekman will be “responsible for leadership of Spring Mountain’s property, winemaking and commercial operations as the vineyard enters its next chapter,” continued the release. More information at springmountainvineyard.com.
