(Wine-Searcher) - Oregon venture capitalist buys one of Tuscany's top wineries.

It's "Arrivederci Montalcino" for Diego and Nora Molinari, the owners of the prestigious Cerbaiona estate, who have sold their holdings to a US-headed group.

After 38 years of running the historic property, they have sold to a group led by venture capitalist to Gary Rieschel, a personal friend of the Molinaris and a regular visitor to the estate. He also has other investment interests in Montalcino.

Cerbaiona's current release, the 2010 Brunello di Montalcino, was recently awarded Wine of the Year by Italy's most authoritative wine guide, Guida Essenziale ai Vini d'Italia, written by Daniele Cernilli. Earlier this year, Antonio Galloni gave the same wine a 100-point score, saying: "In all my years of tasting the wines of Montalcino, I have only come across two wines with this level of textural unctuosity and sweetness."

Rieschel's buyout brings a sense of continuity to the estate and the new ownership group includes a neighboring producer with decades of experience in the vineyards and production of Brunello di Montalcino. With other locals and long-time professionals, they aim to preserve what many refer to as "the gem of Montalcino".

"Cerbaiona has been special to my wife and me for many years," said Rieschel, a technology investor and venture capitalist with a lifelong passion for collecting wine. "Visiting Diego and Nora at Cerbaiona was always a highlight of our trips to Tuscany, and we hope to continue the same sense of hospitality, graciousness, and spectacular wine that visitors to Cerbaiona have come to expect. It is a property that commands respect, not only for what it has been, but for what it can become."