Gaucho Holdings Completes Infrastructure Improvements and Expansion to Its Winery Facilities
Improved Amenities at Algodon Wine Estates Expected to Drive Value and Garner Further Interest in Residential Community and Lot Sales
MIAMI, FL / ACCESSWIRE / May 26, 2022 / Gaucho Group Holdings, Inc. (NASDAQ:VINO), a company that includes a growing collection of e-commerce platforms with a concentration on fine wines, luxury real estate, and leather goods & accessories, today announced the completion of its winery's multi-year expansion and infrastructure improvement initiative, that has resulted in a larger and better equipped facility to produce premium quality, small batch wines.
Algodon Wine Estates, an award-winning winery located in San Rafael, Mendoza, Argentina, has over the past 36 months placed significant investment into the acquisition of additional stainless steel tanks, new French oak barrels, and the expansion of its winery and wine cave, including: improvements to its microvinification area and wine cellars that includes stone wall finishings that have been quarried from the local Sierra Pintada Mountains, and produce natural temperature control ideal for barrel aging and storage; the addition of new stainless-steel tanks specially created to produce quality small batch wines, a new tasting room lined with wine racks for bottle aging, and featuring a central keystone, iconic and grand in scale, that was hand selected and quarried from the local Sierra Pintada Mountains, and serves as a tasting table in the center of the tasting room; a new bottling center with improved technology and machinery, as well as a grand rooftop terrace above the winery offering sweeping vineyard views, intended for wine tastings, special occasions and other social events. Algodon's current winery capacity includes 485,000 liters (or approximately 546,000 bottle equivalent), which can be broken down to include tank storage of 280,000 liters, barrel storage of 135,000 storage, and 70,000 liters of bottle storage.
"We are excited to finally see these initiatives in their final phases," said Scott Mathis, Gaucho Group Holdings' CEO & Chairman. "We believe each of these individual projects drives further value for our land holdings at Algodon Wine Estates and serve as important building blocks toward our vision that includes our revised master plan. In addition to our internationally award-winning wines, we've created an ultra-luxury global community that serves as a wellness, culinary, wine and sports destination for all to enjoy."
About Algodon Fine Wines
Algodon Fine Wines are produced at Algodon Wine Estates, a boutique Mendoza winery located in the beautiful foothills of the Sierra Pintadas, in the southernmost region of Argentina's wine capital. Fed by the purest meltwater from the glacial Andes, our 325 acres of vines go back as far as 1946 and produce exceptional fruit on sandy and clay loam. Algodon is one of the only wineries in Argentina that creates wines through a process called microvinification. This process is completed entirely by hand, by our passionate winemaker Mauro Nosenzo, who is assisted by Master of Wine Anthony Foster. Brought together by Scott Mathis and his partners, Algodon Wine Estates' renowned winemakers bring decades of experience, as well as craftsmanship and tradition that have been passed down for generations. Each of our small-batch wines blend the best of those Old World techniques with modern wine-making technology and sustainable, eco-friendly practices to create unparalleled New World varietals. Algodon Fine Wines is wholly owned by Gaucho Group Holdings, Inc. (gauchoholdings.com), which crafts luxury experiences, properties and products the celebrate the vibrant and distinctive Argentinian lifestyle. To learn more, visit algodonfinewines.com. To purchase wines in Argentina, please visit AlgodonWines.com.ar
About Gaucho Group Holdings, Inc.
For more than ten years, Gaucho Group Holdings, Inc.'s (gauchoholdings.com) mission has been to source and develop opportunities in Argentina's undervalued luxury real estate and consumer marketplace. Our company has positioned itself to take advantage of the continued and fast growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences in sought after lifestyle industries and retail landscapes. With a concentration on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com), and luxury real estate (algodonwineestates.com) associated with our proprietary Algodon brand, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho - Buenos Aires™ (gaucho.com), these are the luxury brands in which Argentina finds its contemporary expression.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Gaucho Group Holdings, Inc.
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Released May 26, 2022