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SAN FRANCISCO-The assets and operations of the 150-acre Bellisimo Vineyard in the Napa Valley near Calistoga have changed hands for $16 million in an all-cash transaction. The buyer is a division of locally headquartered Brunton Vineyards Holdings. The sale is scheduled to close before the end of June.
Situated in Knights Valley, Bellisimo Vineyard produces Chardonnay, Merlot and Cabernet grapes that are under contract to be sold to Ledson Winery and Vineyards, Dry Creek Vineyard and E & J Gallo Winery. Bellisimo Vineyard can produce up to 300 tons of grapes per year which translates to approximately 17,000 cases of wine.
Brunton Vineyards CEO Geno Brunton describes the vineyard as a "flagship property" for his company. "Acquiring a property of this stature and grape growing capability can only be a sustainable asset for our company in the long-term," he says.
Brunton Vineyards Holdings (Pink Sheets:BVYH) competes with the likes of Constellation Brands (NYSE:STZ), Scheid Vineyards (Pink Sheets:SVIN) and 360 Global Wine Co. (OTCBB:TSIX). Bellisimo is the second acquisition agreement in as many months.
In February, Brunton signed a letter of intent to acquire 100% of locally based VinoVenue, a wine bar in San Francisco that Brunton plans to expand globally. Brunton Vineyards president Brian McGonigle says the expansion plan for VinoVenue includes 90 more locations in 66 targeted cities in the US; more than 300 are planned worldwide.
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