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Reuters reports that Napa Valley’s Chateau Montelena wine estate will be acquired by France’s Chateau Cos d'Estournel. Terms of the deal were not disclosed.
KC's View:
Seems like a minor deal, but…

What you need to know about this is that in 1976, at the famous Paris Tasting – where local wine critics were shocked when some California wines won top honors – it was Chateau Montelena’s wines that transformed the image of California’s then unimpressive wine industry.

Chateau Montelena has been owned by the Barrett family…and its struggles to improve the quality of California wines is the subject of a new movie, “Bottle Shock,” that is scheduled to be released in the US on August 8. (Check out the trailer online…it looks great!)

Not sure why the Barrett family decided to sell, but it can't have helped that the US dollar is in the tank. Chalk up another victim of the current economy.