In a significant move, wine mogul William Foley has bought a controlling interest in the Kuleto Estate, the 750-acre Napa Valley winery owned by Pat Kuleto. The deal will will give Foley a 70 percent share in the brand, winery, inventory and part of the vineyard. Regarding the terms of the sale, all Kuleto had to say is that "it's a lot of money," but he did add this interesting tidbit: "I'm going to still be the face of the business ... I've been working at this for 18 years, [but] to be honest, I just got caught by the economy. It's a good strategic move to keep all these dreams alive." [Wine Spectator, photo]
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