Published: Sunday, May 5, 2013 at 4:00 a.m.
Last Modified: Friday, May 3, 2013 at 5:32 p.m.
Mayacamas Vineyards sold
Mayacamas Vineyards, a Napa Valley winery that produced a cabernet sauvignon that placed in the historic Judgment of Paris tasting of 1976, has been sold.
The Travers family, which owned the property since 1968, sold the winery, brand and vineyards, said Robert Nicholson, principal at International Wine Associates, which represented the seller.
Charles and Ali Banks, former owners of Screaming Eagle, bought the property along with retail entrepreneur Jay Schottenstein and his son Joey.
The deal included the entire estate including 52 planted acres of hillside vineyards. Its wines sell for $45 to $150 a bottle on its website.
“Mayacamas and others beat out a bunch of others in the blind tasting that put California on the map globally,” Nicholson said.
Financial terms were not disclosed.
Wine prices rising in restaurants
Wine prices in restaurants nationwide increased steadily in the last quarter of 2012 and first quarter of 2013, according to a report by Restaurant Services, a Newton, Mass., firm that tracks food and beverage sales.
On average, the mid-priced casual and upscale-casual segments have posted modest upticks at around 2 percent. But increases at family dining establishments averaged nearly 8.36 percent.
White-tablecloth establishments posted a substantial 5.35 percent average price increase.
The survey examined more than 28 million wine drinks served by the glass or in a bottle or carafe at 5,000 restaurants. Bars, night clubs, hotel restaurants and bars and fast food establishments were excluded.
Ag Department funds program to sell wine in China
Family Winemakers of California and Stonebridge Research Group have been awarded an Emerging Market Program grant from the U.S. Department of Agriculture to develop a plan to sell California wine in the Chinese market.
“On behalf of California producers that haven’t found a foothold in the growing Chinese market, we’re delighted USDA saw merit in our proposal to focus on sales approaches for fine wines,” said Paul Kronenberg, president of FWC.
The initial one-year research project will be led by Barbara Insel, president of Stonebridge Research Group.
“The challenge ... is to identify culturally inclusive approaches to compete with other foreign wine imports at fine wine price points,” Insel said.
The goal is to develop a “mid-tier” wine segment for 750 ml bottles that sell for $40 to $200.
Compiled by Staff Writer Cathy Bussewitz. Submit items to firstname.lastname@example.org
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