Beringer Blass Wines Estates (Beringer Blass), a global leader in premium wine and a major division of Foster's Group, today announced that its Etude Wines operation in the US has entered into an agreement to purchase the RMS facility located in Napa, California.
The site, which includes 3,720 sq metes (40,000 square feet) of buildings, is located in the Carneros region of Napa County and is situated on 12 hectares (30-acres) of land with a four-hectare (10-acre) vineyard planted to Pinot Noir and Chardonnay.
Etude expects the facility to be fully operational as a winery no later than the first quarter of fiscal 2004. The transaction is expected to close in August 2002.
"It has long been a dream of mine to create a 'state of the art' winery to produce Pinot Noir and Cabernet," remarked Tony Soter, founder and winemaker for Etude Wines. "Having such a fine facility available will make this dream a reality. It occupies a picturesque site - beautiful stone buildings built in a French style amidst mature landscaping. This new opportunity, coupled with our great vineyard sources, will yield a quantum leap in quality and consistency for our wines."
Founded by Soter in 1982, Etude specializes in Pinot Noir and Cabernet Sauvignon. Guided by the philosophy that the best wines are grown, not made, Soter has developed collaborative relationships and long-term contracts with some of the finest growers in Napa Valley and Carneros. These relationships have enabled Soter to influence and achieve the superior fruit quality he seeks and, as a result, Etude has a strong reputation among trade, consumers and wine critics who have given Etude Wines consistently high ratings through its 20 years of operation. Etude Wines joined Beringer Blass Wine Estates in September, 2001.
Further information:
Media
Rell Hannah
Tel: +613 8626 3007
Mob: 0419 369 075
Email: rell.hannah@beringerblass.com.au
Analysts
Domenic Pannacio
Vice President Capital Markets
Tel: +613 9633 2641
