Herdade do Monte da Ribeira was acquired in 1986 by the industrialist Victor Carmona e Costa who, in the following 15 years, not only completely reformed the estate, but also implemented the entire productive agricultural structure and wine cellar.
Herdade is owned by Casa Agrícola HMR SA, which is wholly owned by a foundation that bears the name of its two Founders, the Victor and Graça Carmona e Costa Foundation. The Foundation, with headquarters and own facilities in Lisbon, is dedicated to supporting contemporary art in Portugal and Casa Agrícola HMR SA is one of its foundational assets