History
Begun as a "hobby" in 1996, the winery grew steadily. Mario Andretti's interest in the wine business arose from a commemorative bottling of wine he marketed to celebrate his retirement from auto racing in 1994. Two years later Andretti and longtime friend Joe Antonini, former CEO of Kmart (which had sponsored Andretti's racing team) purchased a 53-acre (210,000 m2) vineyard and winery in the far north part of Napa, California, where they built a Tuscan-themed winery, tasting room, and guesthouse. The property was under development as a winery at the time, with wine under production by the former owners.
In 2001 the company conducted a financial transaction in which it sold the 53 acres (210,000 m2) to a Napa farming group. The winery then leased back the tasting room and events center. The company has no ownership stake in the nearby vineyards.
The winery is operated by a public company, Andretti Wine Group, that the founders formed in a "reverse public shell merger" in 1995. It raised $3 million via a public offering in 1998, and remains publicly traded.
Read more about this topic: Andretti Winery
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