← Return to Archives - Subscribe to FREE NewsFetch Email Newsletter
From: lewis.perdue@wineindustryinsight.com

Subject: NEWS EXTRA: Duckhorn Buys Rack And Riddle Real Estate - AUGUST 7, 2013 - WINE NEWS FETCH

Date: 2013-08-07 20:58:01

To: Emailing List Subscriber
Please use CMD+F (Mac) or CRTL+ F(Windows) to find your specific search term within this issue of NewsFetch. This "double search" is due to our links sourcing from websites not within WineIndustryInsight.
If you do NOT wish to receive News Fetch Please Click
>> [UNSUBSCRIBE] << NOW

You have received News Fetch's wine industry news round-up because you signed up or a colleague suggested you would be interested.


SPONSORED BY:
 

NEWS EXTRA

FROM NEWS FETCH

August 7, 2013

CREATED BY WINE INDUSTRY INSIGHT  & MADE POSSIBLE BY OUR SPONSORS

UNSUBSCRIBE: Click [UNSUBSCRIBE].  SUBSCRIBE: Here. CHANGE YOUR EMAIL: Here. NEWS FETCH ARCHIVE: Here



SPONSORED BY:
Duarte Nursery, Inc. is a family owned and operated nursery located near Modesto in the Central Valley of California.  Duarte Nursery is the largest permanent crops nursery in the United States, with a history of aggressively marketing innovative products.
AND
   

Duckhorn Buys Rack And Riddle Real Estate From Entertainment Properties Trust

Entertainment Properties Trust (NYSE: EPR) has sold to the Duckhorn Wine Company, the Hopland real estate it bought in 2007 as part of a sale/leaseback arrangement with Rack and Riddle Custom Crush.

This according to multiple sources including those at EPR, and clients of Rack and Riddle.

No sale price was available, but EPR bought the real estate for approximately $26 million.

According to EPR's SEC filings, the facility had 76,000 square feet of building space and approximately 35 acres of land when acquired.

The  troubled Real Estate Investment Trust has been itching to get out of its wine investments for at least three years and has lost an estimated $130 million (Losses Near $130 Mil For Big REIT's Wine Investments)

SCROLL DOWN FOR MORE



SPONSORED BY:
Moss-Adams
Also Sponsored By:
Heffernan
Also Sponsored by:
  Hinman and Carmichael,Alcoholic Beverage Law

SPONSORED BY:   Wine Industry Network
Also sponsored by:
 
Also sponsored by

The Mendocino County Recorder's Office listing currently shows 46.5 acres for the real estate. Sources say the building space has also been enlarged since EPR's purchase, but no specific number was available.

All of EPR's recently divested properties have gone for amounts near the selling price, but this one may show a better profit because of improvements made to the assets in the past five years.

The company was co-founded in 2007 by Rebecca Faust and Bruce Lundquist who kept the business but sold the underlying real estate to EPR  in May of that year.

Faust and Lundquist were contacted, but did not respond. However, sources say they will continue to own and operate the custom crush business and service Rack and Riddle clients, only with a new landlord.

Sources say that Rack & Riddle has approximately 100 clients, but that one of them -- the sparkling wine operation of Remy Cointreau -- has been about 60% of their revenues. It is anticipated that Duckhorn will replace some of the Remy business.

SCROLL DOWN FOR  MORE


THE FOLLOWING IS SPONSORED CONTENT
CURRENT HELP WANTED ADS
The following Help Wanted Ads have been placed in Wine Country Classifieds as of August 7, 2013. For more ads please visit us at www.WinerySite.com
POSITION COMPANY CITY STATE SALARY Contact
Harvest Cellar Workers The Ranch Winery St. Helena CA DOE jobs@ranchwinery.com
Harvest Intern NakedWines.com Kenwood CA DOE franc.dusak@nakedwines.com
Harvest Cellar Operator Franciscan Estate St. Helena CA DOE NWStaffing@cwine.com
Harvest Cellar Op Robert Mondavi Winery Oakville  CA DOE NWStaffing@cwine.com  
CLICK HERE TO PLACE AN AD WITH WINE COUNTRY CLASSIFIEDS

EPR STILL TRYING TO SELL OTHER PROPERTIES

According to EPR's July 29, 2013 8-K filing with the SEC, they still owned the following properties for sale:

  • Clements Vineyard & Winery, Linden CA
  • Lockeford Vineyard & Winery, Lockeford CA,
  • Pope Valley Vineyard & Winery, St. Helena CA,
  • Covey Run Winery, Sunnyside, WA, Gallo Winery
  • Rack & Riddle Custom Crush, Hopland CA (listed in the 8-K even though a sale was pending at the time)

Gallo is leasing the Sunnyside real estate.

PREVIOUS ORIGINAL WINE INDUSTRY INSIGHT COVERAGE

ENTERTAINMENT PROPERTIES TRUST

PREVIOUS CARNEROS VINTNERS COVERAGE

HAVENS WINE CELLARS (UNDER BILLINGTON MANAGEMENT) COSENTINO WINERY (UNDER SOLDINGER MANAGEMENT) EOS ESTATE ASCENTIA WINE ESTATES

  News Fetch: Best Wine Industry Advertising Value
You may also visit Wine Industry Insight's advertising pages for more information.


SPONSORED BY:

 


SPONSORED BY:
New Classic Winemakers of California
By Steve Heimoff

New Classic Winemakers of California: Conversations with Steve Heimoff


 


================= CONTACT DATA ====================
Lewis Perdue
670 W. Napa St., Suite H, Sonoma, CA 95476
Phone: 707-326-4503, fax: 707-940-4146
Email: lewis.perdue@wineindustryinsight.com