Issue link: http://winesandvines.uberflip.com/i/279499
W i n e s & V i n e s A P R i L 2 0 1 4 19 D undee, Ore.—Ste. Michelle Wine Estates is the latest buyer to pick up a tranche of vineyards formerly managed by Premier Pacific Vine- yards Inc. on behalf of the California Public Employees Retirement System (CalPERS). CalPERS has steadily divested itself of hundreds of acres in the Northwest over the past year, with purchasers including Jack- son Family Wines of California and Seattle- based Precept Wine Brands. The latest deal gives Ste. Michelle a 298- acre parcel in the Eola-Amity Hills AVA, boosting its overall vineyard holdings in Washington state, Oregon and California to more than 3,800 acres. The parcel includes the 119-acre Willakia Vineyard, which includes 98 acres of Pinot Noir and 21 acres of Chardonnay. Ste. Michelle has designated the vineyard for its Erath Win- ery but notes that the property offers room for an additional 30 acres of vines and a winery facility. Terms of the transaction were not dis- closed. Developed vineyards in the Willa- mette Valley have been known to trade in the range of $100,000 per acre, however, potentially valuing Ste. Michelle's acquisi- tion north of $12 million. Ste. Michelle acquired Erath in 2006, and it is now one of the largest wine brands in Oregon, with an annual production exceed- ing 150,000 cases. The purchase of the former CalPERS property is in turn a positive development for Ste. Michelle and its fast-growing brand, and Oregon as a whole. The advent of larger wineries gives the state's wines the expanded distribution they've long sought. It's not just putting product in the hands of consumers (and cash in vintners pockets), but getting the state's name in front of drinkers, too, raising the state's profile. All told, approximately 3,500 acres of vineyard land are known to have changed hands in Washington state and Oregon dur- ing the past year—the most robust spurt of activity since the financial crisis of 2008 put the brakes on financing and real estate transactions. The next major Northwest vineyard transaction will be Musser Bros.'s auction of 694 acres in the Horse Heaven Hills AVA, which is scheduled for April 4. —Peter Mitham Ste. Michelle Buys 298 Acres in Oregon Company will use vineyard site in the Eola-Amity Hills for Erath label Ste. Michelle Wine Estates' Oregon pur- chase includes 119-acre Willakia Vineyard. A P R I L N E W S The original, BOTTLE-MATIC-II 3 YEAR WARRANTY INCLUDED D ISPENSA-MATIC Label Dispensers Price subject to change without notice. 2/01/10 28220 Playmor Beach Rd, Rocky Mount, MO 65072 Call Toll Free: 1 (800) 325-7303 or (573) 392-7684 FAX:(573) 392-1757; E-mail: info@dispensamatic.com Web: http://www.bottle-labeler.com STOP Wasting Time Labeling by Hand! $1800 for Wines & Vines Readers! Front & Back! Label any cylindrical container fast and accurately from ½" to 8" diameter, @ Speeds of 1200 Pcs. per hour. NOT A CHEAP, IMPORTED KNOCK-OFF! 21 day trial MADE IN USA! Front and Back!