US: Napa's Screaming Eagle sold for US$30m
Cult Napa Valley Cabernet producer Screaming Eagle has changed hands for a price-tag of around US$30m.
Money manager Charles Banks and Stan Kroenke, owner of the Denver Nuggets basketball and Colorado Avalanche ice hockey teams, have joined forces to buy the world-famous winery, vineyards and brand from founder Jean Phillips.
No details were released, but Screaming Eagle's 60 acres of vineyard alone are likely to have been valued at a minimum of US$300,000 an acre.
Only 500 cases of the cult wine are produced a year. Some is sold by mailing list at US$300 a bottle, but some sells at retail prices of US$1,000 or more. One six-litre bottle sold at auction for a record US$500,000 in 2000.
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