ST. LOUIS — David Hoffmann, the investor behind a $100 million plan to transform Augusta wine country into a national destination, has stepped down from his company and named his sons as co-chief executives.
Hoffmann, 70, and his wife, Jeri Hoffmann, still will serve as advisers for the Augusta project, which calls for a hotel, 12-hole golf course, riverboat cruise and other amenities. They have already acquired wineries, historic buildings and hundreds of acres of vineyards.
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Their sons, Geoff and Greg Hoffmann, took over “complete operations†of the Hoffmann Family of Cos. on May 1 and serve as co-CEOs, according to a release.
“I have thought for a long time about making these moves as my sons navigated and were the drivers of the growth of the company,†David Hoffmann said in a statement. “The transition has been seamless.â€