Tejon Ranch Signs Long Term Contract With Gallo Winery
Friday, January 25, 2008
TEJON RANCH, CA (January 23, 2007) Tejon Ranch Company (NYSE:TRC) recently signed a contact to grow additional acres of wine grapes for E & J Gallo Winery, one of the country’s largest wineries. The contract, which extends for at least ten years, calls for the Ranch to produce 300 acres of rubired wine grapes for Gallo. In addition to the approximately 300 acres already being grown for Gallo, the new agreement brings the total acreage under contract with the winery to over 600. Tejon Ranch has been growing grapes for Gallo, off and on, for more than 30 years.
With nearly 1,800 acres devoted to wine grapes, Tejon Ranch is one of the larger wine grape growers in the San Joaquin Valley. It grows wine grapes exclusively under contract for various wineries and its location and elevation allow it to produce a number of different varietals. The Ranch’s location at the southern end of the San Joaquin Valley also means its wine grapes are among the first in the state to be harvested, which allows its contract wineries to get an earlier start on the crush and actual production of wine. Tejon Ranch Co. is a diversified real estate development and agribusiness company, whose principal asset is its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield.