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.