Crimson Wine Buying Sonoma Vineyard With 98-Year-Old Zinfandel Vines

Crimson Wine Group (OTC: CWGL) has agreed to pay $2.6 million for a 24-acre Sonoma County vineyard parcel containing 13 acres of Zinfandel vines planted circa 1916.

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An 8-K filed with the by Crimson Wine on August 29, said the land — on Piner Road north of Santa Rosa — was purchased from Silverado Sonoma Vineyards LLC. Aerial photos indicate that the vineyard has 20 acres planted including the heirloom Zinfandel vines which have been used in “Old Vine Zinfandel” wine programs.

According to the Sonoma County Assessor and other public sources, the property also has a barn and a 1,461-square-foot, four-room home with two bedrooms and one bath. The property is part of the county ag preserve.

According to the purchase and sale agreement, Crimson will assume a grape purchase agreement with Justin Vineyards & Winery (dba Landmark Vineyards) as well as two other unspecified lease agreements with Ledson Winery and Carlisle Winery & Vineyards.

Profits and proceeds from the 2014 crop to be harvested will go to Silverado Sonoma Vineyards. This property is one of the few remaining vineyard LLCs that was not sold to TIAA-CREF in April of this year. For more on that, please see: Silverado Premium Properties & Winegrowers Sold To TIAA-CREF

The agreement was signed on August 25. Crimson has 45 days from that date to perform due diligence including an appraisal.

Original documents and Assessor’s Parcel Map available to Wine Executive News subscribers

• Crimson Wine SEC 8-K Filing
• Vineyard Purchase & Sale Agreement

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