home
***
CD-ROM
|
disk
|
FTP
|
other
***
search
/
TIME: Almanac 1993
/
TIME Almanac 1993.iso
/
time
/
052989
/
05298900.011
< prev
next >
Wrap
Text File
|
1992-09-23
|
1KB
|
22 lines
BUSINESS, Page 75Business NotesVINTNERSThey Will Sell No Wine
For 107 years the Christian Brothers, a Catholic order of
teachers, have financed their spiritual good works by producing
California brandy and table wines. Last week, after months of
soul searching, the Brothers announced that bottled spirits no
longer fit into their plans. The company will sell its $100
million-a-year wine-and-brandy business and 1,160 acres of prime
vineyards to Heublein, a subsidiary of London-based Grand
Metropolitan, for an undisclosed amount, perhaps as much as $150
million. Heublein, which owns California's Inglenook vineyard
but has no major brandy label of its own, would thus become the
largest vintner (1,940 acres) in the Napa Valley.
Although the Christian Brothers say they want to focus on
educational programs instead of wine production, some insiders
suspect another reason: the conflict between the order's
religious values and widespread public concern about alcoholism,
which has led to a general decline in liquor sales.