Inside the chaotic showdown meeting of Napa Valley wine family torn apart by Succession-style feud as insults and accusations were flung around over plot to sell out for $31m

A plot to sell off a celebrated Napa Valley winery amid a bitter family feud over its future has been stopped in its tracks - for now.

Monticello Vineyards was built from scratch on a former prune ranch in 1970 by Jay Corley, who left the winery to his seven children when he died in 2016. 

The family appears to be lining up in two camps, one wanting to keep Monticello in family hands and the other plotting to sell it to the highest bidder.

Years of scheming came to a head at a furious shareholder meeting on Wednesday where voices were raised and accusations of fraud were thrown around the room.

The feud pits youngest child Carolyn and her bothers Kevin and Chris against the other four siblings Kent, Michael, Stephen, and Mark, who want to cash out. 

Seven siblings are warring for control of celebrated Napa winery Monticello Vineyards. Carolyn, Kevin, and Chris want to keep it in family hands but Mark, Kent, Stephen, and Michael want to sell out to the highest bidder

Monticello Vineyards was built from scratch on a former prune ranch in 1970 by Jay Corley, whose death in 2016 triggered the feud (Jay with an early batch of Monticello wines in a photo used to announce his death in 2016)

Jay (left) worked on the vineyard with Kevin (right) his successor as president and chairman, Chris (third from left) as winemaker, and Stephen (second from left)

Worried by agenda items urging a vote on selling the winery, Carolyn's faction assembled a strong opposition and won the first round.

'I feel like we have a fighting chance now,' she told DailyMail.com.

'I'm really pleased with the show of support and I'm more confident that those who don't want to sell, won't have to.

'I think they realize they're not going to be able to proceed how they thought.'

Mark, who was elected chairman in 2021 in a coup against eldest brother Kevin, spent the meeting under fire and didn't even attempt a vote.

'It was a chaotic meeting with a lot of high tensions,' Carolyn said.

'The were a huge blame game and a lot of yelling with accusations of fraud and breach of fiduciary duty by the board.

'It was the biggest shareholder meeting the company has ever had... everyone wants to see more transparency. 

'There were a lot of questions they couldn't answer and they didn't give any indication of anyone they were talking to about a sale.'

Chris with his family outside the winery's house, a smaller version of Thomas Jefferson's Virginia mansion, that he and his siblings grew up in

The winery is hours away from a showdown on its future as a bitter family feud threatens to tear it apart

Since its founding, hundreds of other flashy wineries have sprouted around the property and been snapped up by big conglomerates

Carolyn said Mark didn't even have the financials ready to show investors or know when taxes were due when grilled by one of them.

'Mark was in the hot seat the whole meeting and was very uncomfortable,' she said.

Her faction hopes to follow up its first victory by 'removing some people from the board' at the next meeting in the next few months.

Chris was also unanimously retuned to the board after stepping down in November, when the effort to sell accelerated. 

Carolyn, like her six older brothers, grew up in the winery's house, modelled on Thomas Jefferson's Virginia mansion, and is deeply invested in the business as a link to her beloved father.

'It's where we grew up and where I took my first steps, I don't want to sell,' she said, feeling the four brothers are 'trampling on her father's legacy'.

Since its founding, hundreds of other flashy wineries have sprouted around the property and been snapped up by big conglomerates.

Carolyn (pictured with Jay) is deeply invested in the business as a link to her beloved father, and feels four of her brothers are 'trampling on his legacy'

Jay is pictured with a glass of Monticello rose and wearing a US Open ball cap 

Carolyn fears this is the 'pivotal moment' her pro-sale brothers have been working towards, and a sale is coming unless enough shareholders back her

Chris is Monticello's principal winemaker, first joining in 2000 aged 16, and often attends events on its behalf and shows visitors around the vineyard.

'Over the last four decades, I have enthusiastically worked for and served Monticello in every department, and plan to do so going forward as long as I'm able,' he told the San Francisco Chronicle.

'I remain an absolute and enthusiastic supporter of the legacy that our father started with the founding of Monticello back in 1970.' 

Carolyn and Chris are the two youngest of the siblings, and are the children of Jay's second wife.

Kevin, the eldest child, has worked for Monticello since 1986 and was 'passed the baton' by his father to lead the company.

He also has the most shares, with more than 15 per cent compared to the four to six per cent each most of his siblings have.

However, he was effectively pushed out in a power struggle in the years since Jay's death and is no longer involved in the day-to-day business.

The winery's house, a smaller version of Thomas Jefferson's Virginia mansion

A photo of all the extended Corley family, taken on Father's Day last year as a tribute to Jay

Carolyn as a young girl with her father Jay among the grape vines

Moves began in March 2021 when the four other brothers convinced the board to split the roles of chairman and president - which Kevin held until then.

Mark was elected chairman by the board despite having moved to Tennessee and having no direct involvement in the business.

The chairman has more power than the president, so Kevin was already at a disadvantage. But this was only step one.

The next year the board sent Kevin on a six-month sabbatical from his role as president, and elected Mark in his place - despite voting to split the roles just months earlier.

Why Kevin went on sabbatical, whose idea it was, and whether it was voluntary is not clear, but Kevin never returned to the post or working in the company other than sitting on its board.

Then about six months ago, Mark and others proposed lending the winery cash at 10 per cent interest, which could be converted into shares.

The share option would have diluted the stakes of everyone not involved in the loans, but the plan was not approved.

Carolyn grew up playing in the vines, as did her children, and she hopes her grandchildren too

Jay poses among the vines he planted on the property he began in 1970

Chris is Monticello's principal winemaker, first joining in 2000 aged 16, and often attends events on its behalf and shows visitors around the vineyard

Instead, Kent bought thousands of shares from another shareholder for $8 each, according to the San Francisco Chronicle.

Carolyn said this was 'absurdly below market value' as Mark told shareholders this year that Monticello's real estate was appraised at $30.8 million and therefore shares were worth $51.81 each.

Kent earlier bought 22,887 shares on June 27, 2021, and distributed them to Mark, Michael, and three other board members.

Chris resigned from the board for unspecified reasons in November, removing another hurdle for the brothers in favor of selling.

Since then, plans to sell the company accelerated and became more overt.

Mark advised shareholders in the same month Chris left that the board would 'evaluate strategic options,' including 'the potential sale of the entire business',

'The opportunities for Monticello and its shareholders could be significant,' he wrote, noting consolidation trends among Napa wineries.

Then on March 1 he advised the board had 'started discussions with several parties who have expressed interest in acquiring the entire company'.

Jugal Taneja, a shareholder who runs smaller Napa vineyard Maroon Wines, decided he'd had enough of the family 'soap opera' and sent his own letter in response.

Kent last bought thousands of shares from another shareholder for $8 each, which Carolyn said was 'absurdly below market value'

Mark (left) was elected chairman by the board in 2021 a coup against Kevin, and is spearheading efforts to sell the company, supported by Michael (right)

Jugal Taneja (pictured with his wife), a shareholder who runs smaller Napa vineyard Maroon Wines, offered to buy 40 per cent of the company for $12.50 a share so he could end the feud and get the warring family members off the board

He expressed support for Chris, whom also designs wine for Maroon, and slammed the board's infighting and share valuations.

Carolyn penned her own letter afterwards: 'Monticello is not just a business to me. it is my childhood, my history, and the memory of my dad.' 

Taneja also offered to buy 40 per cent of the company for $12.50 a share so he could end the feud and get the warring family members off the board.

'I had no desire to be a shareholder of a private company with a family feud, but I thought it would help Chris if I could take a big portion,' he told the Chronicle. 

'The way they are fighting, it's like a soap opera. The best outcome is they should sell the company.'

However, he claimed the board refused to speak to him about his white knight offer.

Plans to sell the company accelerated and became more overt since November