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Bialla Vineyards sold for $3.2 million
Napa Valley‘s Bialla Vineyards has been sold for US$3.2 million to an unidentified Chinese buyer.
The purchase includes the winery on Atlas Peak, its 22 acres of vineyards planted to Cabernet Sauvignon and Merlot and the wine from the 2010 and 2011 vintages.
The 2009 vintage is the final one being sold by founders Vito Bialla owner of global executive recruiter Bialla & Associates.
Bialla said he sold the winery because of the difficult business climate and the layers of red tape facing small-winery owners.
Since listing the property for sale two months ago, Bialla said some 20 prospective buyers expressed serious interest. Most of them were reportedly from China.
It is believed the new owners will create a new brand to be sold in China.
In November 2011, Yao Family Wines was set up by Chinese basketball star Yao Ming to use grapes from the Napa Valley in California, reflecting Ming’s time playing in the NBA.