At 95, Peter Mondavi Reflects on Life in Wine
As amicable partners in the family business, Peter Jr. and Marc Mondavi have pulled off something their father and uncle couldn't. Peter and Robert Mondavi clashed frequently over the latter's ambitious plans for the winery. Matters came to a head with a fist fight. "When it was all over, there were no apologies and no handshake," Robert Mondavi wrote in his autobiography, "Harvests of Joy."
A bitter court battle ended with Robert founding his namesake winery in 1966, going on to become a famous champion of Napa Valley wines. Peter Mondavi ran Charles Krug.
Over time, the brothers reconciled, something that was commemorated in 2005 when they made wine together for the 25th anniversary of the Napa wine auction.
By that time, the Robert Mondavi Corp. had been sold to New York-based Constellation Brands, derailed by intense competition and a wine glut.
Charles Krug remains in family hands, with no plans to change that.
"When you go public you have stockholders and when you have stockholders they want money," says Mondavi. "They want to know that they're part-owner of a winery, but they want the money. If you don't keep them happy ... the romance goes out the window."
Looking at the present troubles, Mondavi isn't expecting a quick turnaround.
"Let's face it. Sales are not there. The economy's not there. I say until the unemployment is resolved they're going to have troubles."
The truth is, a family winery doesn't make for a big profitable investment, says Mondavi
But it is a livelihood.
"This wine picture — for us it's because we love it," he says.
