Heitz paid $25 million for the 50-acre site, according to the deed. “The vineyard was considered non-core to the business’ requirements,” Atina Alkhas, a representative for Treasury Wine Estates said in a written statement.
“Viticulture and world-class winemaking in the US remain important to TWE, along with marketing and selling our renowned Californian wine brands,” Alkhas said, referring to Treasury Wine Estates. “At the same time, we are continually looking for opportunities to ensure our asset base is in line with the requirements of the business.”
Heitz is owned by Gaylon Lawrence Jr. His father, who died in 2012, owned more than 165,000 acres of farmland in Illinois, Missouri, Arkansas and Mississippi and was the owner of U.S. Airconditioning Distributors, the world’s largest privately owned heating, ventilation and air conditioning distributor. His family also owned five community banks and 30,000 acres of citrus farms, making his companies Florida’s largest producer of fresh fruit.