Amador County – With the region headed shortly into a “Big Crush” that followed an extended wet season, the Renwood Winery of Plymouth has been purchased by a South American company, reportedly for $7 million.
The South American wine investment group Ren Acquisition Incorporated recently announced the purchase of Renwood Winery.
Ren Acquisition is a newly formed California company, and its purchase of the winery was made at an auction after a federal bankruptcy ruling in mid-July in Sacramento.
Chandni Patel, publicist for Ren Acquisition released details Aug. 4, saying the privately owned company, chaired by Alejandro Pedro Bulgheroni, “has completed the purchase of Renwood Winery, a well-known Amador County Zinfandel producer.”
Patel said “Ren Acquisition and its board of directors share a commitment to preserving a region’s flagship varietals, while at the same time, using innovation and expanded resources, to elevate winemaking to the highest quality level possible.”
Ren Acquisition’s board of directors includes Argentinean wine industry veteran, Carlos Pulenta, “who will act as primary wine consultant.” Since starting his own winery in 2004, Pulenta “quickly proved his dedication to solidifying Argentina’s position within the premium wine market,” Patel said, most notably in partnership with Bulgheroni, with their “Vistalba” and “Tomero” Bordeaux-style blend wines receiving “much international acclaim.”
Patel said Renwood Winery, established in 1993, “quickly gained a reputation as a premier producer in California’s Gold Valley,” known locally as the Shenandoah Valley. “With vineyards containing some of the oldest Zinfandel vines in California, the winery expanded its production to also include Barbera and Syrah offerings and produces nearly 100,000 cases annually.”
Renwood Winery’s “Dave Crippen will remain in his role as head winemaker, with Carlos Pulenta and his team advising on vinification,” or the process of fermentation. Patel said “Bulgheroni is confident that the group’s past experience in the South American wine industry will bode well for their first expansion effort into the United States.”
Bulgheroni in the release said: “It is an exciting, new opportunity for our team to work with the terroir of Renwood,” that is, the special characteristics that the geography, geology and climate of the region bestow on the particular varieties.
Bulgheroni said: “We believe that the addition of Zinfandel from Amador County to our portfolio of wines will be the first step in our international commitment to pioneer winemaking.”
Bulgheroni, is president and CEO of Associated Petroleum Investors Limited, and other oil enterprises.
Renwood Winery, at 12225 Steiner Road in Plymouth, began with 2,500 cases in its first production run, and now makes nearly 100,000 cases annually. Renwood is listed on Spoke.com as having $10 million to $25 million in annual sales, manufacturing wines, brandy and spirits.
Various media reported the purchase bid was just under $7 million, though Ren Acquisition Inc. declined to confirm financial details.
Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it.
