Homestead Capital USA LLC has acquired Sage Creek Vineyard, a vineyard located in Napa County’s Chiles Valley. No financial terms were disclosed. Dickenson, Peatman & Fogarty provided acquisition advice for Homestead.
SAN FRANCISCO–(BUSINESS WIRE)–Homestead Capital USA LLC (“Homestead”), a private equity firm investing in operating farmland in the United States, announced today that it has completed the acquisition of an 105-acre vineyard in the Chiles Valley of Napa County. Homestead will continue the vineyard’s heritage as an independent wine grape grower, providing high quality fruit to Napa Valley wineries. The vineyard is planted to primarily Cabernet Sauvignon and Sauvignon Blanc, but also includes small blocks of other red Bordeaux varieties.
“We are very excited to add the Sage Creek Vineyard to our permanent crop portfolio. The vineyard’s location in the Napa Valley American Viticultural Area provides us with a unique opportunity to establish a platform property focused on meeting the needs of high-end Napa Valley wineries,” said Alex Sauer, Vice President of Permanent Crops for Homestead.
The acquisition further expands Homestead’s presence in the wine grape industry, following its December 2015 acquisition of a 284.7-acre vineyard located in the Santa Maria Valley of Santa Barbara County, and a vineyard producing Cabernet Sauvignon, Merlot, and Syrah in Eastern Washington.
The vineyard was sourced by Richard Brockmeyer, one of Homestead’s Pacific Region Farm Managers, who will continue in a management role with the property. Dickenson, Peatman & Fogarty acted as acquisition counsel for Homestead.
In November 2016, Homestead held a final close of its second fund, Homestead Capital USA Farmland Fund II, L.P., at its hard cap of $400 million in limited partner capital commitments.
ABOUT HOMESTEAD CAPITAL
Homestead Capital is a private equity firm investing in operating farmland across the Mountain West, Pacific, Midwest and Delta regions of the United States. With offices in Council Bluffs, Iowa and San Francisco, California, Homestead has a vertically integrated investment platform led by a team of professionals with deep agricultural and financial experience in investing, farm management, farm acquisition, portfolio construction and risk management. For more information, please visit the company website at http://www.homesteadcapital.com/.