Winebusiness.com - Homepage for the Wine Industry

New Mexico's Gruet Winery has purchased Texas's Cap*rock Wine Company for $6.5m


Date: 07/12/10

As the fourth owners of the 21-year old winery siblings Laurent & Nathalie Gruet plan to use the facility to augment its renowned New Mexico sparkling wine production with that of Texas sparkling wines. The auction took less than two minutes.

Having estimated its worth at 2.5m Cap*rock's managing partner Don Roark had filed Chapter 11 bankruptcy on December 23 2009 with debts, including unpaid county property taxes and a $4 million loan from former owner PlainsCapital Bank, estimated at more than $5 million.

Gruet currently owns 150 acres of vineyards near southeastern New Mexico's Elephant Butte along with its winery, offices, and tasting room located along I-25 in Albuquerque. Its current annual production of 120,000 cases is distributed in 49 US states, Denmark, Japan, and the UK. Since its inception in 1987 the Champagne-originated family-owned winery has won numerous accolades for its sparkling wines and by most accounts is primarily responsible for having placed New Mexico on the map for quality wine production.

Auctioneer Williams & Williams told WBM that final sale was subject to bids having passed an undisclosed base price and won't be finalized for at least another week.

--David Furer

Subscribe to Daily news Email

FREE Wine Business Daily News delivers the industry's top stories emailed to you from our editorial team.

most popular daily news links

latest used barrels

- used barrels  •  Dec 18, 2014 at 8:02AM PST
- used barrels  •  Dec 18, 2014 at 8:02AM PST
- used barrels  •  Dec 18, 2014 at 8:02AM PST
- used barrels  •  Dec 17, 2014 at 8:43AM PST
- used barrels  •  Dec 17, 2014 at 4:20AM PST

latest real estate

- real estate  •  yesterday at 9:10AM PST
- real estate  •  Dec 10, 2014 at 9:31AM PST
- real estate  •  Dec 2, 2014 at 9:34AM PST
- real estate  •  Nov 28, 2014 at 2:29PM PST
- real estate  •  Nov 25, 2014 at 9:51AM PST

latest used equipment

- used equipment  •  Dec 18, 2014 at 3:23PM PST
- used equipment  •  Dec 18, 2014 at 3:23PM PST
- used equipment  •  Dec 18, 2014 at 3:23PM PST
- used equipment  •  Dec 18, 2014 at 11:05AM PST
- used equipment  •  Dec 18, 2014 at 9:40AM PST

latest services & supplies

- services & supplies  •  Dec 18, 2014 at 7:36AM PST
- services & supplies  •  Dec 16, 2014 at 12:55PM PST
- services & supplies  •  Dec 15, 2014 at 11:21AM PST
- services & supplies  •  Dec 13, 2014 at 6:52AM PST
- services & supplies  •  Dec 13, 2014 at 6:52AM PST

industry events

Search Events:

Copyright© 1994-2014 by Wine Communications Group. All Rights Reserved. Copyright protection extends to all written material, graphics, backgrounds and layouts. None of this material may be reproduced for any reason without written permission of the Publisher. Wine Business Insider, Wine Business Monthly, Grower & Cellar News and Wine Market News are all trademarks of Wine Communications Group and will be protected to the fullest extent of the law.