HomeGrape Ground California Winegrape Vineyards: 2023 Sales Update

Grape Ground California Winegrape Vineyards: 2023 Sales Update

California grows grapes in 49 of its 58 counties. Growers and wineries currently face challenges on multiple fronts: labor shortages and costs, post-COVID-19 materials costs and logistics issues, consolidation at the distributor level and higher interest rates. In California, we can always add to those daunting burdens the ever-present encumbrances of climate extremes and water availability.

And yet, despite these formidable challenges, growers continue to add grape ground, and buyers continue to acquire grape ground. This review of recent sales is certainly not all-inclusive but intended to give a large-picture snapshot of some of the year’s more significant sales. Feel free to reach out if you spot a glaring omission or error.

Please note: Some transactions that appear to have skewed per acre prices may include other significant assets such as wineries, caves, equipment, existing inventory and contracts, etc.

Amador County
Rombauer to E.J. Gallo (~40 acres, $3,500,000; September 2023)

Wilderotter Vineyard to Amadoras del Vino, LLC (~40 acres, $6,800,000; June 2023)

Kern County
79.3 acres Cab Sauv at $25,000/acre; November 2023

80 acres French Colombard at $25,000/acre; November 2023

167 acres Pinot Grigio, French Colombard, Syrah, Chardonnay at $24,400/acre; November 2023

Madera County
78.5 acres Black Muscat, Orange Muscat, Chardonnay at $37,600/acre; April 2023

Mendocino County
Abel Vineyard to Wentworth Vineyards (~21 acres, $1,400,000; August 2023)

Haiku Vineyard to Prudential Ag Investments (201 acres, $12,000,000; June 2023)

Savoy Vineyard to Donum Estate (52 acres, $5,244,000; May 2023)

Monterey County
Monterey County boasts the single largest vineyard in California. San Bernabe Vineyard contains 5,000 acres, owned by Delicato.

Napa County
Ahmann Vineyard to Cakebread Cellars (209 acres, price undisclosed; Spring 2023)

Alfred Frediani Ranch to Eisele Vineyard (27.65 acres (21 planted), $18,500,000; February 2023) (Pickett Road Property)

Altimeter Vineyard to Shafer Vineyards (~20 (10 planted) acres, $5,555,000; June 2023)

Azalea Springs Way to Memento Mori (~17 acres, $10,310,000; November 2022)

LMR Wine Estates, Rutherford to St. Supery (48 acres, $14,800,000; August 2023)

Montagna to Brion Wise (128 acres, $50,000,000; August 2023) (Now “BRION Estate”)

*Hess Collection to MVSR (Sequoia Grove) (104 acres (18 planted), $3,667,500; June 2023)

*Hess Collection to Kopf Vineyards (unknown acres, $6,213,000; October 2023)

*Hess Collection to Villa Amorosa (<200 acres, $15,250,000; November 2023)

*Multiple correction deeds and lot line adjustments make precise acreage transferred unclear.

Rombauer Vineyard to E.J. Gallo (~700 acres, price undisclosed; Summer 2023)
(Amador, Monterey, Napa, Sonoma Counties)

Spring Mountain Vineyard to MGG Investment Group (845 acres, $42,000,000; July 2023) (purchased out of bankruptcy)

Stag’s Leap to Marchesi Antinori (~300 acres)

Vine Cliff Winery to SCW Fund Corp (~100 acres, $42,100,000 for land alone, not including other business assets)

Vintage Wine Estates to Wonderful (42 acres, $11,000,000; March 2023) (Tenma Vineyard)

San Benito County
Treasury Wine Estates to The Wine Group (642 acres, $15,000,000; November 2022)

Combined with their 2017 purchase of >1,300 acres, The Wine Group now owns over 2,000 acres in the Paicines AVA

Judd Vineyard to Kylix Vineyards (640 acres, $1,500,000; February 2023)

San Joaquin County
Largest winegrape-growing county in California and 5th-largest winery in the U.S. in Manteca, owned by Delicato

Hidden Oaks Vineyard to Farmtogether (~103 acres, $3,200,000; June 2023)

Santa Barbara County
Bridlewood Estate Winery to Santa Ynez Ranch, LLC (81 acres, $5,530,500; January 2023)

Buttonwood Farm to Buttonwood Ranch, LP (107 acres, $6,750,000; July 2023)

Santa Clara County
San Felipe Vineyard to Pura Revocable Trust (187 acres, $3,380,000; February 2023)

San Ysidro Vineyard to Valuable Land Investment, LLC (~312 acres, $7,800,000; July 2023) (purchased by local buying group)

Sonoma County
Dr. Galante Estate Vineyard to DuMol (~29 acres, $4,525,000; Summer 2023)

Sonoma-Cutrer to Duckhorn (~1121 acres, $400,000,000; November 2023)(Expected to close 3Q 2024)

Soracco Family Vineyards to C and F Company (~81 acres, $8,100,000; September 2023)

Syar Vineyards to Klein Foods (~500 acres, $37,500,000; June 2023)

Undisclosed to Rombauer Vineyards (54 acres, price undisclosed; January 2023)

San Luis Obispo County
And last but the opposite of least, the mind-bending MOAB of 2023 vineyard sales:
Daou sold to Treasury Wine Estates (~400 acres, >$900,000,000; Agreement to Acquire) (Potential for additional $100,000,000 added to purchase price, depending on achieving specified goalsl; not yet closed).

Upcoming in 2024
The Duckhorn Portfolio, Inc. entered into an agreement to acquire Sonoma-Cutrer Vineyards including 1,121 acres for an estimated $400,000,000. The acreage is in the Russian River Valley and Sonoma Coast appellations. Anticipated closing is in late 2024.

Every effort is made to provide accurate information, including verification with publicly available county documentation; however, accuracy is not warranted by author or publisher.

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