The Terlato Wine Group has sold the vineyards and winery facility that housed Alderbrook Winery, but kept the winery’s brands and inventory. The sale will enable Illinois-based Terlato to buy a larger winery and to shift its vineyard holdings to pinot noir and chardonnay, said Terlato CEO Bill Terlato.
The sale to Bernie Orsi included 60 acres of zinfandel vines, a tasting room and a production facility with the capacity to produce about 50,000 cases of wine annually, Terlato said.
“We’re negotiating to purchase another winery that we think is a better strategic fit for us,” he said. “Both the size of the winery and the grape varietals on the vine are more in line with what we want to pursue in the future.”
Terlato would not say the name or location of the new winery, but said that deal would likely close in the next few weeks.
“We’re right in the middle of negotiations right now,” Terlato said.
The Alderbrook transaction closed at the end of last week, Terlato said. Financial details were not disclosed.
Terlato Wine Group will retain Alderbrook’s winemaker, but the future of the other employees is unclear. Other than the winemaker, Bill Terlato did not know the status of the employees, he said.
Bernie Orsi could not immediately be reached for comment.
Terlato Wine Group owns six wineries in Napa, Santa Barbara, France and Australia, Terlato said.
source : http://pressdemocrat.com
