An agreement was made by Arterra Wines Canada, Inc. to acquire Laughing Stock Vineyards on the Naramata Bench.
“We started Laughing Stock Vineyards to create a premium, boutique Naramata Bench winery and after a decade and a half, we reached a tipping point both in terms of scale and demand. We made the decision to partner with Arterra Wines Canada because of their commitment to maintaining the integrity and quality of our wines and their solid history in the Okanagan,” said David and Cynthia Enns, co-founders, Laughing Stock Vineyards, in a press release.
Arterra Wines Canada, Inc., headquartered in Mississauga, Ont., and is owned by the Ontario Teachers’ Pension Plan. The company has been making award-winning wines in the Okanagan for more than 30 years, with over a thousand acres of premium vineyards like Black Sage and Sunrock. They make recognized wines from Black Sage Vineyard, Sumac Ridge Estate Winery, See Ya Later Ranch, Jackson-Triggs and Inniskillin Okanagan, Nk’Mip Cellars and employ over 500 people in B.C. The sale was done privately, so neither party was obliged to disclose the information.
“Laughing Stock Vineyards has earned the distinct reputation of being a well-respected and recognized premium, boutique winery in the Okanagan, with a strong team dedicated to making wines of superb quality. We are proud to welcome them into our family of Okanagan wineries and look forward to working together into the future,” said Jay Wright, president and CEO, Arterra Wines Canada, Inc.
In the past five years, Laughing Stock Vineyards has gone from 5,000 cases to 10,000 cases and entering their 15th harvest this year they will have the resources of Arterra to keep the momentum they have built to keep growing. The winery was founded in 2003 by David and Cynthia Enns, who will continue to play a key leadership role sustainably growing the business over the next several years. The winery will be acquired by Arterra effective Dec. 1.
“Growth is not a reason to change but change is necessary to continue our ongoing pursuit to make better wine each and every year. Arterra owns and farms arguably some of the best vineyards in the Okanagan Valley with over a thousand acres including some of the highest regarded vineyards like Sunrock, Dark Horse and Bull Pine,” said the Enns in a press release.
David Enns will continue as winemaker and Cynthia Enns as general manager where their flagship wine, Portfolio, is considered one of Canada’s iconic wines receiving impressive accolades year over year, most recently earning a 94 score on the 2015 vintage.