Texas Winery on the Auction Block
5,000-case producer Pheasant Ridge Winery to be sold Nov. 6
Pheasant Ridge has been producing 5,000 cases annually, making it 40th in size of Texas’ 207 wineries, according to Wines Vines Analytics. Its average retail bottle price is $10.
The property has been divided into four parcels for the sale, with the vineyard acreage divided between two parcels. The first parcel consists of 11 acres, including some Cabernet Sauvignon and Sémillon grapes; the winery building, which has a tasting room, showroom, office, barrel room and wine production area; the winery equipment and wine inventory. The wine equipment includes Mueller stainless steel tanks, an Amos destemmer/crusher and must pump, a GAI bottling line, a Velo DE filter and pump, a Kosme glue labeler and a Landa gold series steamer. The wine inventory consists of 31,661 gallons of bulk wine and 3,545 cases of bottled wine.
The second parcel is comprised of 49 acres, some of which is planted with the balance of the vineyard, and the vineyard equipment. Grape cultivars in this section include Cabernet Sauvignon, Pinot Noir, Cabernet Franc, Merlot, Ruby Cabernet, Chardonnay and Chenin Blanc. Two water wells, both approximately 250 feet deep, are located on this parcel. The third parcel of 32 acres and the fourth with 30 acres have no water source (the buyers must drill their own wells) and the land is either tilled or unimproved.
The vineyard at Pheasant Ridge Winery originally was planted in 1979 by Bobby and Jennifer Cox, who opened the winery in 1982. They brought in an investor in 1987, and in 1992 William E. Gipson Sr. became the owner of the winery. Gipson, a geologist who became president of Pennzoil Offshore Gas Operators in Houston, Texas, loved wine and enjoyed serving Pheasant Ridge wines to friends and family. Gipson is now 89 years old, and his family has decided to find a new owner for the winery.
The auction will take place at the winery, 3507 E. County Road 5700 in Lubbock, at 11 a.m. on Nov. 6. The property will be open for public inspection this Friday, Oct. 18, from 11 a.m. until 2 p.m. or by appointment. For more information contact Danae Hill at Williams & Williams by calling (918) 362-6565.