After retiring from the publishing business, Shrem relocated to the Napa Valley, where he established Clos Pegase Winery in 1983. In cooperation with the
San Francisco Museum of Modern Art, he conducted an architectural design competition for a winery building. Out of 96 entries, the winner was
Michael Graves, who would design the postmodern Clos Pegase Winery building, which opened in 1987. In 2007, it was described by architecture critic Susan Dinkelspiel Cerny as "an interpretation of Classicism in ochre and burnt sienna, with a spare desert feeling." Shrem was well known for delivering a humorous lecture on the 4000-year history of wine as seen through art. ==Philanthropy ==