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Westbend Vineyards - Business For Sale

13/wk
Winston-Salem Area, North Carolina, United States
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Asking Price$2,695,000
RevenueUndisclosed Established1972
Cash FlowUndisclosed EmployeesUndisclosed
FF&E$525,000* FranchiseNo
InventoryUndisclosed RelocatableNo
Real Estate$2,675,000* Home-basedNo
* Included in Asking Price
Unique opportunity to own Westbend Vineyards, the first vinifera vineyard ever established in the state of North Carolina.  Little did Jack Kroustalis know he would be making history by planting the Yadkin Valley's first vinifera grapevines over 40 years ago.  He began planting vinifera varieties that are used to produce fine California and French wines.  Chardonnay, Cabernet Sauvignon, Riesling, Merlot, and Sauvignon Blanc are now thriving along the banks of the Yadkin due to this pioneering vineyard.   Cut and paste into your browser to watch a detailed overview of the business:    https://vimeo.com/122094716Westbend is now known for producing some of the finest hand-harvested, handcrafted, premium estate wines in the country.  The list of national and international awards is long and includes Gold medals for the Barrel Fermented Chardonnay, the Cabernet Sauvignon, the Merlot, the Chambourcin, the Sauvignon Blanc, the Riesling, and the Seyval Blanc. These wines have been distributed throughout the Carolinas and featured in well-known restaurants, wine shops and large retailers including Harris Teeter, Lowes Foods, Total Wine and Fresh Market.    A commercially bonded winery for over 25 years, Westbend has received favorable press in publications such as the Wall Street Journal, Time Magazine, Wine Spectator and the Wine Advocate.  Robert Parker, the most widely known and influential wine critic in the world and founder of "The Wine Advocate" declared it "One Of The South's Best Kept Secrets".The business has built a tremendous amount of goodwill throughout the community and has often seen over 1,000 people per week participate in winery tours.  Over the years, the property has become known as a popular and innovative wedding and multipurpose event center for the entire region.  A hand-sewn log home provides historic ambiance and has been upgraded and expanded to include vaulted ceilings, fireplace, kitchen facilities and a private covered deck overlooking the vineyards.  Art shows, car shows, concerts, private parties and other special events have been commonplace and drawn large crowds.  The location of the property, just fifteen minutes from Winston Salem and 40 minutes to Piedmont Triad International Airport makes it ideal.  This area's grape growing and wine making industry has grown significantly over the past decade and would not have been possible without the vision of Mr. Kroustalis and Westbend.  This pioneering winery was instrumental in helping to obtain North Carolina's first American Viticultural Area designation.  The Yadkin Valley AVA, located in the western Piedmont and foothills of the Blue Ridge Mountains, includes all or part of seven counties where vineyard tours and several annual wine festivals are held.  There are now 35 wineries, most with tasting rooms, within 50 miles of this property. The total property sits on 40 acres with over 14 acres dedicated to the vineyards. Their plantings include Cabernet Sauvignon, Merlot, Reisling, Chardonnay and Pinot Noir among others.  In 2012, Westbend invested over $350,000 to became only the second winery in North Carolina to offer locally-brewed craft beers.  With its five-barrel state-of-the-art brewing equipment, the brewhouse was well received and offers tremendous growth potential by leveraging the the Westbend brand name.  Nationally, craft beer sales are rising and there appears to be not end in sight.  The brewers  association reported 2013 growth of 15 percent, marking the fourth straight year of double digit growth.  The well maintained equipment and facilities have been continuously upgraded.  The winery has current capacity of up to 14,000 +/- cases and plenty of room for expansion.  Brewery has five-barrel, state of the art equipment that is nearly new.Today the Yadkin Valley is home to nearly 40 wineries and over 400 acres are devoted to vineyards.  There are many vineyards that do not have winery equipment.  Westbend generates additional revenue by assisting these vineyards in processing and bottling wine via their custom crush (private labeling) program.While there are other wineries, few, if any, can offer the reputation and potential of this historic winery.  Westbend has one of the most recognized brands on the east coast and is ready to be marketed by a distributor network around the state.  Brewery operations are relatively new but have been very well received by customers and the press.  By leveraging the company's brand, brewery operations there is substantial room for growth.  Real Estate is included in the purchase price and is offered by MidStreet Realty.  Contact Broker for additional details.
Competition:Today the Yadkin Valley is home to nearly 40 wineries and over 400 acres are devoted to vineyards. While there are other wineries, few, if any, can offer the reputation and potential of this historic winery.
Growth Potential:Westbend has one of the most recognized brands on the east coast and is ready to be marketed by a distributor network around the state. Brewery operations are relatively new but have been very well received by customers and the press. By leveraging the company’s brand, brewery operations there is substantial room for growth. In addition, there are many vineyards that do not have winery equipment. Westbend generates additional revenue by assisting these vineyards in processing and bottling wine via their custom crush (private labeling) program.
Training/Support:Sellers are willing to provide substantial training and consultation. Winemaker/brewery master is available for ongoing training/consultation.
Sale Reason:Seller is retiring.
Ad #72369
Seller Reference #OBANKNC001-N375
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Jeffery Baxter
(252) 255-5000
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