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Vintage Wine Trust (VWT) has completed the acquisitions of two California vineyards.

Vintage Wine Trust (VWT) has completed the acquisitions of two California vineyards. The two estates, Iron Corral in Napa Valley and Gravelly Ford in the Central Valley of California, cost the trust approximately $16.5 million. The Iron Corral vineyard, located in Pope Valley, which is part of the Napa Valley appellation, was acquired from, and leased back to, Foster's Wine Estates--Americas. The vineyard, which was acquired for around $9.5 million, totals approximately 192 acres, 142 of which are currently planted. The principal varietals grown at Iron Corral are Cabernet Sauvignon, Merlot and Syrah. The Gravelly Ford vineyard, in Central Valley, was acquired from one of the nation's largest privately owned wineries and leased back to an established Central Valley independent grape grower. The vineyard, which was acquired for about $7 million, totals approximately 769 acres, all of which are planted. The principal varietals grown at Gravelly Ford are French Colombard, Zinfandel and Ruby Cabernet.
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Publication:Food & Drink Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Jul 11, 2005
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