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--> A recent national news story about a surge in foreclosures ofwineries and vineyards has left a sour taste in the mouths of manylocal industry leaders. As many as 10 wineries and vineyards in the Napa County will changehands in distressed sales or foreclosures this year and next, upfrom none in 2008, Bloomberg News reported. The story was based on a survey by Silicon Valley Bank, asubstantial player in financing local vineyard transactions. Butthe survey is not Napa-specific, according to Silicon Valley Bankofficials, and instead was industry-wide. To paraphrase Tolstoy (poorly): All happy wineries resemble one another; each unhappy winery is unhappy in its own way. As the economy continues to affect the California wine industry, there is a prevailing feeling of dread among industry analysts and producers; a recent report by Silicon Valley Bank, a major investor in vineyard properties, suggests that as many as 10 vineyards and wineries in the Napa Valley alone are likely to be sold under distressed circumstances this year; in a survey accompanying the report, 7% of the region's producers considered themselves to be in dire financial shape. Mat Garretson, John Buechsenstein and Michael Havens were unfortunate enough to be on the leading edge of that trend. Each had built a small, high-quality winery from scratch only to have it falter in the new economic reality; each has had to face seeing wines they crafted selling for dimes on the dollar at discounters. During a visit to the winery, Francesca Planeta, daughter of Diego Planeta, who looks after marketing, had hinted that big news could be announced in a week’s time but would not speculate any further. Apparently, the winery has sealed the deal with all the stakeholders. Planeta continues its journey through the island’s enology, and after Sambuca, Menfi, Noto and Castiglione di Sicilia where it has its vineyards, is now trying to bring back Mamertino which, according to historical sources, represented the jewel in the crown of Sicilian viticulture during Roman times, together with Taormino. The area of the ‘archaeo-enology’ is Capo Milazzo (Messina), a high ridge of land running into water and almost an island, pointing north from Sicily and, apart from the Aeolian wines, the most northern point of the island for viticulture. Mamertino is the wine of warriors and remembered as such for its particular characteristics. It was considered as one of the four best wines of Italy during the time of Julius Caesar who chose it to celebrate at the feast for his third Consulate, together with Falerno. He was considered the guardian of the vine, because he held it to be a way of linking man to the soil and an instrument of military defence, as the vine growers bitterly opposed any invaders who threatened their vines. at a nearby table. “I thought, ‘The wine is a really important deal, but yousee a celebrity and you get butterflies,” said Sharp, owner of Capture Wines in California’s Napa Valley. Indian Late Harvest Chenin Blanc (dessert Wine) Sharp quickly calmed down and impressed the distributorwith his new sauvignon blanc, the first premium vintage from hiswinery. But his hardest work lay ahead: trying to sell 6,500bottles of the 2008 Tradition Sauvignon Blanc at $32 apieceduring the most severe economic slump since the 1930s.“This is definitely an ugly time for many players,” said Jon Fredrikson , president of Gomberg, Fredrikson & Associates ,wine-industry consultants in Woodside, California. William Foley's winery shopping spree The purchase of Firestone Vineyards is more about the distribution than the wine. The Santa Barbara wine world is buzzing about the recent sale of Firestone Vineyards to William Foley of Foley Estates Vineyard & Winery. The deal, part of a plan by Foley to build a wine producing and distribution empire, has fueled speculation about what the founder and chairman of Fidelity National Financial Corp., a multibillion-dollar title insurance and claims-management services company based in Jacksonville, Fla., will buy next. Indian Late Harvest Chenin Blanc (dessert Wine) "Bill's idea is to put together a consortium of six or seven wineries and develop his own wine distribution and sales company," says Foley Estates general manager Alan Phillips. Before the Firestone deal was announced, Foley purchased the 220-acre Las Hermanas Vineyard in the Santa Rita Hills as an estate vineyard for his Lincourt Winery. With the acquisition of Firestone, Foley owns 760 planted acres in Santa Barbara.
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