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In the long run, it may not work for Chalone.
Some of those investors also had an interest in Chalone.
Chalone has never paid a dividend and is unlikely to do so for many years.
With family and friends behind him, he took over Chalone in 1965 and has been making great wines ever since.
He made his first wine a year later, but it wasn't until 1969 that Chalone was released commercially.
The Chalone approach is a critical combination of fine wine and innovative people willing to take risks.
Swan wines and a few from Chalone were exceptions.
The place was originally called Chalone when the railroad was built to the site in 1886.
In promoting its stock, Chalone has never emphasized dividends or long-term appreciation.
Chalone went public in 1984 and enjoyed some barely profitable years before going into the red in 1992.
Two years later Chalone took it over.
"My wife-to-be took one look at Chalone, and I left soon after that."
But the biggest event is the annual gathering here at the Chalone Vineyard.
We found in Chalone the only American wine company that shares our philosophy."
He and his family purchased Chalone Vineyard in 1965.
Shares of Chalone rose $1.09 yesterday, or nearly 13 percent, to $9.67.
The deal requires final agreements among the partners and approval of a committee of the Chalone board.
The Chalone stockholders are not only loyal customers, but also an enthusiastic sales and promotion staff.
Chalone went public in 1984.
A few fly in, using the Chalone airstrip, but winery officials frown on this: the landing is not an easy one.
Chalone is getting serious.
One to try is the dry and distinctive 1992 Chalone chenin blanc, $30.
The financial performance of the Chalone Wine Group, a publicly owned company, has not exactly been remarkable in recent years.
Some tours venture beyond Chalone affiliates.
The Chalone Wine Group has not been a stellar performer, but its shareholders are loyal.