Fractional shares offered in California vineyard
US winemaker Mondo Cellars is offering its wine club members the chance to buy fractional ownership interests in the business. Owners Mitch and Doug Mondo sold out of their current releases ahead of schedule and found themselves short on funds for the bottling of its next seven new wines, so decided to offer this investment opportunity to members.
The members will receive a share of Mondo’s acreage, its buildings, winery and B&B business. The property includes 82 acres, a three-room bed & breakfast, winery tasting room, a winery and barrel room and large landscaped wedding and special events area.
“It’s a little bit like a country club membership, except with Mondo Cellars plan, it would be like you owning part of the golf course too. Mondo Cellars is providing you with the ownership in the winery, and the land plus discounts on wine and fun events. This plan also has real tax and income benefits,” says Doug Mondo.
Mondo Cellars is selling stakes in 50 per cent of the land and 30 per cent of the winery in a bid to raise $2.68 million to reinvest in the facility improvements and marketing efforts.
“We’ve sold more than $150,000 in shares to investors in the last 30 days alone,” said Mondo.