Billionaire Resnicks Pick Up Justin Winery
Justin Winery was founded by Justin Baldwin and his wife Deborah back in 1981. The winery now makes about 50,000 cases of wine a year including cabernet sauvignon, malbec, syrah and petit verdot starting at around $20 a bottle. The 160-acre property also is a travel destination with a hotel and a restaurant.
Bloomberg News reports that unlike many of the other wineries purchased this year, this one doesn't appear to have been in financial distress (as was the case with the recent purchase of Eos Winery in Paso Robles by Foley Family Wines). It's not known how much the winery sold for. The Resnicks had been looking to get into the wine business for years and found Justin Winery to be the perfect fit.