KENDALL JACKSON SIGNS A TEN-YEAR LEASE WITH VINTAGE WINE
Vintage Wine Trust Inc. has signed a ten-year lease on its Huichica Hills vineyard with Kendall Jackson. Vintage wine originally purchased the vineyard for $30 million and leased the property back to Constellation Wines for a two-year term.
The new lease, effective July 1, replaces the current one which was scheduled to expire at the end of the year.
“We are thrilled to enter into this lease on our Huichica property with such a well respected producer of super premium wines. This transaction demonstrates our ability to enhance our growth strategy through improved leasing opportunities," said Joseph Ciatti, Vintage Wine Trust's chairman and CEO.
The new lease, effective July 1, replaces the current one which was scheduled to expire at the end of the year.
“We are thrilled to enter into this lease on our Huichica property with such a well respected producer of super premium wines. This transaction demonstrates our ability to enhance our growth strategy through improved leasing opportunities," said Joseph Ciatti, Vintage Wine Trust's chairman and CEO.
posted at 1:55 PM
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