US: Chalone sells vineyard to Premier Pacific
The Chalone Wine Group Ltd has sold a vineyard to Premier Pacific Vineyards. Chalone announced yesterday that it has completed the sale of the 160-acre Suscol Creek Vineyard in south-eastern Napa Valley in California for $7.5m.
Chalone had acquired the property in 2000 to build a home for Provenance Vineyards. However, in 2002 the company purchased Napa Valley's subappelation, making the Suscol Creek Vineyard surplus to its requirements.
In a statement, President and CEO Thomas B Selfridge said: "Originally, we were going to build a winery on Suscol since we assumed we'd never be able to find anything for sale in Rutherford, which is the focus of Provenance. But, when the Chateau Beaucanon tasting room, winery and vineyard came on the market, we moved quickly to buy this prime location on Highway 29. That made the Suscol Creek Vineyard excess inventory."
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