Francis Ford Coppola is soon to close on a purchase of the old Geyser Peak winemaking facility that is currently owned by VinREIT, a division of Kansas-City-based, Entertainment Properties Trust, according to multiple industry sources.
An announcement is expected shortly. The transaction does not involve the Geyser Peak brand, which is owned by Accolode Wines. Accolode wines currently leases the facility, along with 98 acres of vineyard.
The transaction looks to be strategic for Coppola, which is growing and owns a neighboring winery in Geyserville, the old Chateau Souverain Facility that was purchased from Foster's. That facility is now known as Francis Ford Coppola Winery and has been transformed into quite the destination.
Industry observers have estimated Coppola's annual case volume to be significantly higher than a million cases (Anybody care to play - let's guess Coppola's volume?) The sale is the latest of several for VinRIET, which has been shedding its vineyard and winery assets.