$21 million for Justin Winery land

on 20/04/11 at 10:01 am

Wine

Justin Winery

When billionaire Stewart Resnick bought Justin Vineyards and Winery near Paso Robles in late 2010, the purchase made headlines far and wide: One of San Luis Obispo County’s most respected wineries had been sold to a water bottling company owned by a major player in California’s agriculture and water business.The price went unmentioned because both parties refused to divulge how much money had changed hands.

But in one measure of the deal, The Tribune has learned the price paid for the 160-acre property.

According to the San Luis Obispo County Auditor-Controller’s Office, Resnick’s Fiji Water paid about $21 million for the winery and its properties.

The total sale price is still unknown; Justin Baldwin, the founder of Justin Vineyards & Winery, as well as a spokesman for Roll Global, Resnick’s holding company, would not comment on the sale.

Baldwin would say the total sale price was more than the $21 million paid for the land. He added, “I can’t contractually comment other than to say that this was not a real estate transaction.”

A wine industry analyst said any guess at the sale price would be shooting in the dark, even if the land sale price is known.

Enhanced by Zemanta