Bernard Arnault's Moët Hennessy Louis Vuitton (LVMH) luxury group has made its first move in Burgundy, buying Domaine des Lambrays from Ruth Freund for an undisclosed sum. The domaine includes a near monopoly of the climat Clos des Lambrays.
The Wine Spectator Auction Index, which tracks sales of commercial wine auctions in the United States, rose 6.7 percent in the first quarter of 2014, to 339.94 points. This represents the index's largest quarterly increase in the past three years.
Under a 1964 agreement, the irrigation districts - known as the Settlement Contractors - are collectively entitled to annually divert 2.2 million acre-feet of water from the Sacramento River in all but the driest years. That is enough to supply 4.4 million households
With the California wine market on a cyclical upswing, Harvard Management Company, the Boston-based investment shop for Harvard University's $33 billion endowment, is quietly assembling a Central Coast vineyard play, reports Farmland Investor Center.