Sealed Bid Auction for Napa's Kirkland Ranch Set for December 3

International Wine Associates, in conjunction with Braun Auctioneers and The Beverly Group, Inc. has been engaged by Kirkland Knightsbridge LLC to conduct a Sealed Bid Auction of the Kirkland Ranch Winery, a Napa Valley wine estate and vineyard. The Minimum Opening Bid is $22 million, less than half of the previous value, IWA said in an announcement.

The winery was constructed by the Kirkland family in 1998 in Southern Napa Valley. The winery is over 57,000 square feet and was built using the highest-quality design and materials. The winery's permit allows for the processing of 200,000 gallons of wine annually, however, the site's infrastructure could easily support the production of 500,000 gallons of wine. The cellar has storage for 3,000 oak barrels and the high-speed bottling line can bottle up to 500,000 cases a year (one shift). The permit allows retail sales and public tastings by appointment. The Winery's banquet and meeting facilities are permitted for up to 74 events annually. The winery property and adjacent three parcels are also available which includes 100 acres of planted vineyard and 90 to 100 additional acres that can be planted.

Potential buyers may bid on the winery with 69 acres of vineyard with a minimum bid of  $22 million.

There is also a second option where the winery would come with 260 acres of land, of which 160 acres are planted and another 100 acres that can be planted. The second option, with a starting bid of $26 million, also comes with a dwelling and 49 acre-foot reservoir, according to Sally Nicholson, a principal with IWA. The buyer will not be able to assume the winery's current debt. "Somebody potentially is going to get a great deal," Nicholson said.