Source: Algodon Wines & Luxury Development Group
NEW YORK, NY – May 9, 2017 – Algodon Wines & Luxury Development Group, Inc. (OTCQB: VINO), a real estate development brand with luxury lifestyle assets and premium wines in Argentina, has partnered with Sherry-Lehmann Wine & Spirits, a leading wine and spirits merchant to bring Algodon Fine Wines’ portfolio of award-winning Malbec wines produced in the San Rafael, Mendoza wine region of Argentina to the United States. This partnership represents Algodon Fine Wines’ first U.S. retailer with more national and regional wine merchants to be announced in the coming months.
Sherry-Lehmann, established in 1934 and celebrating its 83rd year in business, will showcase Algodon Fine Wines at its marquee store located at 505 Park Avenue at 59th Street in New York City. The Sherry-Lehmann store combines old-world charm with modern sophistication, and caters to seasoned wine lovers and beginners alike. They are renowned for a deep stock of fine wine and spirits from across the globe, helpful, knowledgeable staff, and an award-winning website. In advance of Algodon’s Fine Wines availability for in-store purchase, Sherry-Lehmann will be taking pre-orders in store and on their website ordering portal.
Featured wines coming to Sherry-Lehmann include Algodon’s classic range of single varietal wines such as Malbec, Bonarda and Pinot Noir as well as Algodon’s mid-range wines Malbec-Bonarda and Malbec Reserve. Sherry-Lehmann will also showcase Algodon’s award-winning vintage, PIMA available in limited production. PIMA is handcrafted from some of Algodon’s oldest vineyards, planted in 1946, and represents the best of Algodon’s winemaking potential, blended with a careful selection of Malbec, Bonarda, Cabernet Sauvignon, Syrah, and Merlot grapes.
On September 12, 2016, Seaview Imports was appointed Algodon’s sole U.S. agent and importer of its complete portfolio of fine wines produced in the San Rafael, Mendoza wine region of Argentina. This partnership represents Seaview’s official rollout of Fine Malbec Wines in the United States with more partner announcements expected in 2017.
“We couldn’t be more proud and humbled to have our wines featured at one of the hallmark wine and spirits retailers in the United States,” said Scott Mathis, Algodon’s founder, chairman and CEO. “We look forward to leveraging Sherry-Lehmann’s 83 years of experience in the wine merchant business to bring our award-winning Malbec wines to the states. Furthermore, their established online presence provides a first-class website ordering portal that will showcase our complete wine portfolio and expand our global reach.”
“Algodon Fine Wines is already a dominant player in the Argentine wine market and their partnership with Sherry -Lehmann not only validates the superb quality of their Fine Malbec Wines, but also serves as the launching pad for their U.S. rollout,” said James Galtieri, Seaview’s president and CEO. “Since commencing our partnership with Algodon in late 2016, we have received significant inbound interest from many of our wholesale and retail partners across the United States. This provides great confidence with solidifying new partners in the weeks to come and we expect to update our new customers on the central and west coasts in short order.”
Algodon Fine Wines, founded in 2007, is one of the most exciting and dynamic wine brands emerging from Argentina. Located in San Rafael, Mendoza, in the beautiful foothills of the Sierra Pintadas, Algodon produces a full range of premium wines from land holdings that include noted parcels of pre-phylloxera vineyards dating back to the 1940s. The Mendoza winery in the southernmost region of Argentina’s wine capital is fed by the purest meltwater from the glacial Andes. Over 325 acres of vines go back as far as 1946 and produce exceptional fruit on sandy and clay loam.
Algodon Fine Wines are handcrafted by the brilliant winemaker, Mauro Nosenzo, who is aided by acclaimed oenologist Marcello Pelleriti and advised by Master of Wine, Anthony Foster. Algodon’s goal is to produce premium wines utilizing ecofriendly, organic inspired approaches, combined with the best modern winemaking technology. Brought together by CEO 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. Algodon recently appointed Seaview Imports as its sole U.S. agent and importer of Algodon's complete portfolio of fine wines produced in the San Rafael, Mendoza wine region of Argentina.
Algodon's premium wines have received a number of top awards and ratings from the world’s foremost tasting competitions. On October 19, 2016, Algodon was awarded a gold medal in the Global Malbec Masters 2016 Wine Competition for its 2012 Black Label Malbec. Global masters of wine & master sommeliers awarded the prestigious gold medal during a series of blind tasting competitions, designed to reward the very best Malbecs in the world, ranging from the mountains of Mendoza and Chile’s Maipo Valley to the châteaux of Cahors.
Algodon’s 2012 Black Label Malbec represents the best selection from Algodon Fine Wines 1946 Malbec vines, whose low yield produces full concentration of fruit and flavor. The tannin structure is underscored with the combination of terroir and skilled winemaking. The Black Label Malbec spends 24 months in new French oak after the microvinification method, the grapes are harvested in late February, and attentively selected directly in the vineyards.
The company’s complete portfolio of fine wines is currently available in distinguished wine bars, wine shops, restaurants and hotels in Buenos Aires and Mendoza (including over 210 sales points throughout Argentina). Algodon Fine Wines are also distributed in Germany, Switzerland, Guernsey, U.K., the Netherlands and today in the United States.
In conjunction with the launch of Algodon Fine Wines with Sherry-Lehmann, Algodon Group will be offering shareholders of record a 25% discount on all purchases through the Sherry-Lehmann on-line wine shop, utilizing PROMO CODE: VINO1234. For more information and to pre-order your favorite Algodon Fine Wines, please click here.
About Sherry-Lehmann Wine & Spirits
Founded in 1934, Sherry-Lehmann is located in the heart of Manhattan, at 505 Park Avenue. The Sherry-Lehmann store combines old-world charm with modern sophistication, and caters to seasoned wine lovers and beginners alike. Renowned for its deep stock of fine wine and spirits from across the globe, it's helpful, knowledgeable staff, and award-winning website, Sherry-Lehmann is committed to delivering an incomparable level of customer service. Entering its 83rd year of business, Sherry-Lehmann's dedication has earned many awards, including: "Retailer of the Year" (The Wine Enthusiast), "New York's #1 Wine Shop" (Zagat), and the "#1 Wine Shop in America" (Forbes). Visit www.Sherry-Lehmann.com for more information.
About Seaview Imports
Founded in 2013, Seaview Imports is a national importer of fine wines from France, Spain, Italy, Australia, New Zealand, Argentina and Chile. Headquartered in Port Washington, NY, the company distributes its products in twenty-five select states through wholesalers and state boards. Their producers are leaders in their regions and their portfolios are all exceptional in quality and value. For further information, please visit www.seaviewimports.com.
About Algodon Wines & Luxury Development Group (Algodon Group)
In building our luxury brand ALGODON®, one of prestige, distinction and elegance, we begin with a focus on the quality and reputation of our award-wining wines. Algodon Wines ultimately serve as our ambassador, as we then identify and develop vineyard operations, luxury lifestyle properties, and other real estate assets and opportunities. Our company has a passion for seeking outstanding opportunities, with the potential for growth, in spectacular settings. As we continue to produce the ultra-fine wines for which we have become recognized, we expect that our reputation for quality will only continue to grow and accordingly increase the value of our company’s brand and real estate holdings. Algodon’s non-leveraged, luxury assets serve as our mainstay and are currently concentrated in Argentina, which we believe represents one of the most undervalued investment sectors in the world today. For more information, please visit www.algodongroup.com.
Cautionary Note Regarding Forward-Looking Statements
The information discussed in this press release includes “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”). All statements, other than statements of historical facts, included herein concerning, among other things, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward looking statements. These forward looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not be considered to be) guarantees of future performance. Among these risks are those set forth in a Form 10-K filed on March 30, 2016. It is important that each person reviewing this release understand the significant risks attendant to the operations of Algodon. Algodon disclaims any obligation to update any forward-looking statement made herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities in the United States. The securities described herein have not been, and will not be, registered under the Securities Act, or any state securities laws, and may not be offered or sold except in compliance with the registration requirements of the Securities Act and applicable state securities laws or pursuant to exemptions therefrom.
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The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. This press release may contain certain statements of a forward-looking nature relating to future events or future business performance. Any such statements that refer to Algodon Wines & Luxury Development Group (Algodon Group) and its respective subsidiaries ("the Company") estimated or anticipated future results or other non-historical facts are forward-looking and reflect the Company's current perspective of existing trends and information. These statements involve risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The forward-looking statements speak only as of the date set forth above. The Company undertakes no obligation to update publicly any forward-looking statement, whether because of new information, future events or otherwise.
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