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
Famous quotes containing the word history:
“Regarding History as the slaughter-bench at which the happiness of peoples, the wisdom of States, and the virtue of individuals have been victimized—the question involuntarily arises—to what principle, to what final aim these enormous sacrifices have been offered.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“One classic American landscape haunts all of American literature. It is a picture of Eden, perceived at the instant of history when corruption has just begun to set in. The serpent has shown his scaly head in the undergrowth. The apple gleams on the tree. The old drama of the Fall is ready to start all over again.”
—Jonathan Raban (b. 1942)
“The thing that struck me forcefully was the feeling of great age about the place. Standing on that old parade ground, which is now a cricket field, I could feel the dead generations crowding me. Here was the oldest settlement of freedmen in the Western world, no doubt. Men who had thrown off the bands of slavery by their own courage and ingenuity. The courage and daring of the Maroons strike like a purple beam across the history of Jamaica.”
—Zora Neale Hurston (1891–1960)