Business & Tech
Record Number Of Wineries For Sale In Temecula Valley: Report
Owners are approaching retirement age or have become burdened with debt, operational expenses and other issues, the PE reports.
TEMECULA VALLEY, CA ? Ben Fraleigh, a broker who has been selling wineries in Temecula for nearly 50 years, said he?s never seen so many businesses for sale.
"There?s no growth. You can?t find enough people to harvest grapes," Fraleigh told The Press-Enterprise. "In the last several months, people are coming out wine tasting and not buying wine. That is a problem. ..."
More recent Temecula Valley listings have included Falkner Winery, $14 million; Palumbo Family Vineyards, $6.95 million; Rancho Pacifica Ranch, $3.98 million; Thornton Winery, $17.9 million; Monte De Oro Winery, $17.5 million; and Avensole Winery, $19.5 million, the PE reported.
Find out what's happening in Temeculafor free with the latest updates from Patch.
The volume of wineries for sale in Temecula Valley has grabbed attention. Here's what several owners, industry insiders and watchers told the PE about the trend. Read: Temecula?s wine country hits baby boomer skid as more vineyard owners opt to sell
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