Chalk Hill For Sale, Foley Leading Suitor

Chalk Hill Winery is for sale and the most likely buyer seems to be Foley Family Wines according to numerous sources in the wine industry.

Neither Chalk Hill’s owner, famed attorney Fred Furth nor a spokesman denied that the winery was for sale unlike early 2009 when sale rumors sprang up like spring dandelions.

Foley Family Wines had no comment.

$35-40 MILLION RUMORED, DENIED

Most sources who spoke to Wine Industry Insight — including several familiar with the process — put the purchase price at approximately $35 to 40 million for the winery and $20 to $25 million for additional real estate.

“That’s off,” said an attorney representing Furth, “way off.” However, neither he nor Furth was willing to furnish details about the price or potential buyers.

JESS JACKSON LOOKED, HASN’T MADE OFFER

Sources said that Jess Jackson — Sonoma’s wealthiest person and a close friend of Furth — had looked at buying Chalk Hill.

“Jess didn’t say ‘no,’ but he didn’t write out a check either,” said an informed source.

DIVORCE PLAYING UNCERTAIN ROLE

While some some sources said the sale was coming now as part of the overall divorce settlement between Fred and Peggy Furth, that has not been confirmed.

Peggy Furth was appointed CEO (and co-chair with Fred) of Chalk Hill back in August 2008 but it is unknown whether she will continue to play a role in the winery when it is sold.

Furth has previously said that the winery would not be sold as the result of the divorce.