Investment firm acquires Lieb Vineyards
A New York-based investment company has purchased both the Lieb Cellars vineyard and winery in Cutchogue and the Premium Wine Group in Mattituck for an undisclosed amount, the winery announced Thursday morning.
Southport Lane, a private equity firm, is combining the two businesses into one company. Mark Lieb, who founded Lieb Cellars and co-founded the Premium Wine Group, which makes wines for vineyards without production facilities, will serve as chairman of the board of the new company.
Peter Pace, who has worked for both firms for 14 months, is the new firm’s managing director.
Ron Goerler, president of the Long Island Wine Council, said the deal shows both the strength of the wine industry and its potential.
“It shows that someone feels very confident in the ability for Lieb to grow,” said Mr. Goerler, who owns and operates Jamesport Vineyards. “It looks to a bright future for our industry.”
Alexander Burns, chief strategist for Southport Lane, said in a press release, “The team’s passion for the business reflects our belief in the strength and quality of these companies, The combination or our expertise, along with Peter’s marketing strengths, gives us an even stronger operation.”
Lieb Vineyards, which was founded in 1992, includes 62 acres of grapes and two tasting rooms.