Vintage Wine Trust has completed a private offering of common stock. The newly-formed investment trust, which intends to acquire, develop and net lease wine grape vineyards throughout North America, completed the offering, worth US$159.4m, yesterday (21 April).

VWT plans to use the net proceeds to acquire and invest in vineyards and other real estate assets related to the wine industry and for general corporate and working capital purposes.

"The capital we raised in this offering, when combined with our anticipated leverage, will allow VWT to purchase more than US$425m of wine grape vineyards and related assets," Tamara D. Fischer, VWT chief financial officer said in a statement.