Avennia Acquires Famed Tapteil Vineyard in Red Mountain AVA of Washington State
Vineyard, Winery and Residence included in sale
Red Mountain AVA, WA, August 10, 2021 - The team behind Avennia Winery has acquired the 45 acre Tapteil Vineyard property from Jane and Larry Pearson, which includes approximately 21 acres of planted vineyards near the top of the Red Mountain AVA.
This transaction marries one of the oldest and most prestigious vineyards in the nearly fully planted Red Mountain AVA with one of the hottest ascendant wineries in the state. The vineyard will be Avennia’s first estate vineyard. Legendary Washington winegrower Dick Boushey has been retained to manage the vineyard starting next year. METIS, the premier M&A advisory firm in the Pacific Northwest focused on the global adult beverage and hospitality industries, was the sole transaction advisor.
The property has been owned and operated by Larry and Jane Pearson since its founding. First planted in 1984, Tapteil Vineyard has supplied fruit for some of the highest scoring wines in Washington history, including multiple 100 point scoring wines in Robert Parker’s Wine Advocate. The vineyard is primarily Cabernet Sauvignon and Merlot but also has the oldest plantings of Cabernet Franc on Red Mountain.
In addition to acquiring the planted vineyard, the acquisition includes a 5,600 sf residence and a production facility with a tasting room and adjoining outdoor patio. Located at the northwest corner of the Red Mountain AVA and running up to the ridgeline, the tasting room, patio, and residence offer sweeping views of Red Mountain and beyond. Larry and Jane will retain the Tapteil brand name as they continue to own and farm a separate parcel elsewhere on Red Mountain and produce a small amount of wine they sell direct to consumer.
“We were very familiar with the pedigree Larry and Jane have created at Tapteil, as we have been sourcing fruit from neighboring Red Mountain vineyards including Kiona, Klipsun and WeatherEye,” said Marty Taucher, co-owner and Managing Partner of Avennia. “We are very excited to now be working with Red Mountain old vine fruit and varietals that are important to us as we grow. Plans are underway to fully utilize the buildings on this property that will include opening an Avennia Tasting Room next year. We look forward to being a part of the Red Mountain community and having a base of operations in the heart of Washington Wine Country.”
“We couldn’t think of a better steward of this property than Chris Peterson, Marty Taucher, and the team at Avennia,” said founder Larry Pearson. “As one of the first to plant vines in the Red Mountain AVA, Jane and I have a lot of fond memories wrapped up in this property. We can’t wait to taste the great wine Avennia will produce from this vineyard.”
“When Larry and Jane approached us about selling the vineyard, our first thought was to find a Washington winemaker who could continue capturing the full potential of the old-vine fruit. Avennia is one of Washington’s most exciting emerging wineries, and with no estate vineyard of their own, they were naturally one of the first parties that we contacted about the opportunity,” said Erik McLaughlin, CEO of METIS. “We have total confidence in Chris’ winemaking ability, Marty’s business prowess, and know Avennia will build on the Pearson’s legacy, showcasing the unique potential of this historic vineyard. We are grateful both parties trusted us to serve as a partner on every detail of this important transaction for the Washington Wine industry.”
About Tapteil Vineyard
Development of the vineyard property began in 1984 and focused on Cabernet Sauvignon. Subsequent plantings occurred in the late 80’s and early 90’s and included additional blocks of Cabernet Sauvignon as well as blocks of Cabernet Franc and Merlot. In 1999 the winery was bonded and a tasting room opened in 2000. Grape from the vineyard have gone into hundreds of top scoring wines from wineries across the state including Cadence, Long Shadows, Quilceda Creek, Tamarack, Kiona, and Barrister. For more information about Tapteil, please visit www.tapteil.com.
Launched in 2010, Avennia has become one of Washington State’s most acclaimed wineries. With Winery of the Year and Winemaker of the Year accolades as well as glowing reviews of their wines, Avennia is well-positioned to enhance the reputation of the vineyard and the Red Mountain AVA. For more information about Avennia, please visit www.avennia.com.
METIS is the premier mergers and acquisitions advisory firm in the Pacific Northwest focused on the global adult beverage and hospitality industries. METIS (and its antecedent company) have been advising privately-held businesses on capital transactions, including mergers, acquisitions, divestitures and recapitalizations for over 30 years. For more information about Metis, please visit www.metisnw.com.
About Red Mountain AVA
Red Mountain is a premier wine region in Southeast Washington where world-class Cabernet Sauvignon, Syrah, Merlot and other varieties are grown. With the first vines planted in 1975, Red Mountain became its own AVA in 2001. With 4,040 of gross acres, there are now approximately fifty-four vineyards covering more than 2,300 planted acres, making Red Mountain one of the most densely planted AVA’s in Washington. Elevation ranges from 540 to 1,400 feet with a classic southwest slope between 0-15%. Fruit from Red Mountain has a price per ton of more than three times the state average.
For more information about this or any other transaction, please contact the Metis team:
CEO & Managing Partner