As a specialist in the sale and acquisition of luxury real estate, vineyards and wineries in Napa Valley and Sonoma, the news that luxury brand Dean & DeLuca sold certainly captured my attention. The sales agreement is with Bangkok-based Pace Development Corporation. The Thai company is also purchasing the gourmet food brand’s global business and assets for a total of $140 million.
Included in the sale is the supply chain and operations of 11 outlets and 2 commissaries located in the U.S., plus licensing agreements in 31 international locations, including Thailand, Japan, Singapore, South Korea and others.
“The best margins in the business of premium property development of the future is in offering customers a lifestyle—not just bricks and mortar,” said Pace Chief Executive Sorapoj Techakraisri. The company already has a portfolio of joint endeavors with brands such as Vogue Lounge and Ritz-Carlton Residences.
The home for Dean & DeLuca on the West Coast is located right here in St. Helena. Stating the iconic Dean & DeLuca brand, including the location in Napa Valley, has potential for extraordinary growth, Techakraisri added that this purchase provides a revenue stream that is less cyclical than property development and less prone to external economic shocks. He expects to have stores number in the hundreds in more than 15 countries within the next couple years. Currently, there are 42 Dean & DeLuca stores in eight countries. Pace Development Corporation intends to retain the current management team and will incentivize them in line with their global vision
If you are looking to sell or buy a luxury home, estate, vineyard or winery in Napa Valley or Sonoma, please call me at 707-738-4820 or email me at [email protected]. I keep up to date on what’s happening in real estate in this part of the world and on a global basis. Please be sure to LIKE me on Facebook so you can stay informed too!