Beringer Wine Estates Signs Long Term Agreements With Two Napa/sonoma Properties; Wine Company's Plantable California Acreage Tops 10,000.ST. HELENA, Calif.--(BUSINESS WIRE)--March 2, 1999--Beringer Wine Estates (Nasdaq:BERW) announced it has signed two 30-year lease agreements to develop 750 acres of vineyard land in the prestigious Napa Valley Napa Valley, Calif.: see under Napa. Napa Valley greatest wine-producing region of the United States. [Am. Hist.: NCE, 2990] See : Wine and Sonoma County Carneros regions. The agreements bring the amount of coastal California Coastal California refers to the coastal regions of the US state of California. The term is not primarily geographical as it also describes an area distinguished by sociological, economical and political attributes. vineyard land under the wine company's control to nearly 10,500 acres. The Grace-Benoist Ranch, with 600 acres of plantable vineyard land, is located in both the Los Carneros and Sonoma Valley Sonoma Valley is the birthplace of the California wine industry and often called The Valley of the Moon. Sonoma Valley is home to some of the earliest vineyards and wineries in the state, some of which survived the phylloxera epidemic of the 1870s and the impact of viticultural vit·i·cul·ture n. The cultivation of grapes. [Latin v  tis, vine; see wei- in Indo-European roots + culture. appellations, southwest of Sonoma, between the Durrell Vineyard to the
north and Sangiacomo's Donnell Ranch to the south. Beringer plans
to plant Pinot Noir, Chardonnay, Merlot, and Syrah in the spring of
2000, which should bring the vineyard into full production by 2005.
The 150 acres of Napa Valley vineyard land, located in the cool southern end of Napa County, will be planted primarily to Pinot Noir. Planting will likely start in 2001. "Adding this acreage to the 3,400 acres that we already control in California's North Coast gives our company an even stronger position in an area prized for its high-quality wine grapes," said Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Walt Klenz. "These properties will not only help fuel the future growth of our brands, they continue to fulfill our long-term strategy of controlling vineyards in order to assure steady supply, stable costs and high-quality wine." Beringer Wine Estates Holdings, Inc. is a market leader in the California premium wine industry. The company consists of six award-winning California wineries: Beringer Vineyards, Meridian Vineyards, Chateau St. Jean, Napa Ridge, Chateau Souverain and Stags' Leap Winery
Stags' Leap Winery is in the Stags Leap American Viticultural Area area of Napa Valley in California. , plus an import portfolio of premium brands from Italy, France and Chile. Beringer Wine Estates controls over 10,000 acres of vineyard land, all in the coastal regions of California. Note: This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including the future growth of our brands, our ability to plant the acreage as scheduled and for the vines to mature when planned, and the stability of both the supply of grapes and our future farming costs. |
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