years earlier for $40 million. In 2017, Constellation ponied up the comparatively paltry sum of $60 million to acquire Schrader Vineyards. Schrader sells for about $250 a bottle, but one again, there was a noticeable lack of real estate involved in these huge purchases. If the two largest companies in the world have been this active in scooping things up, rest assured that there has been considerable activity by others. Here are but a few that might be interesting. The heralded châteaux of Bordeaux, France, have also been ripe for plucking. Classified growths like Haut Batailley and Phelan Segur have been targets as their ownership has switched hands. Robert Parker recently sold his Oregon property called Beaux Frères to an international wine-holding company, Henriot. With such frenetic buying comes great concerns of pricing and what this all means for us as consumers. Even with a severely weakened Euro, prices for French wines have not seen the normal correction that was anticipated in light of the currency exchange. The problem is that someone is going to have to pay for the market developments, and one need not look further than a mirror to hazard a guess as to who that might be. Burgundy pricing has become silly with China switching its allegiance from Bordeaux. I used to pride myself on knowing most producers from Napa Valley. It now seems like there is a new one every day and another winery boasting of great scores and prices of $100 and up per bottle. We shall see where all of this takes us, but history and economic models are not promising; the inevitability of continued price escalation seems profoundly certain. I am concerned about what the future holds, but in the meantime, keep enjoying your favorite glass. 104
Inside Northside