California's Robert Mondavi Corp has put 405 hectares (ha) of its Central Coast vineyards on the market.
The asking price of $38.5 million will include the former Byron Winery, which was built in 1984 and converted into offices and a visitor centre in 1996 on completion of a new winemaking facility. The grapes from the vineyards, located in the Santa Maria region of the Central Coast, are largely used to produce Mondavi’s Coastal brand.
‘We are selling non-strategic acreage and a facility that is no longer in use,’ says Andrea Lowen, a spokesperson for Mondavi. ‘The move is an extension of a restructuring that began last year and reflects a focus on the company’s core brands. The Byron brand and original estate vineyards are not for sale.’
It was only a fortnight ago that Mondavi increased its stake in Tuscany’s Ornellaia – a deal that is reported to have cost the company somewhere in the region of $17 million.
Written by Natasha Hughes3 April 2002