SOURCE: Algodon Wines & Luxury Development Group, Inc.

Algodon Wines & Luxury Development Group, Inc.

December 01, 2017 08:31 ET

Algodon Fine Wines Wins Gold at the 2017 New York World Wine & Spirits Competition

Panel of Esteemed Judges Awards Prestigious Gold Medal to Algodon's 2014 Bonarda

NEW YORK, NY--(Marketwired - December 01, 2017) - Algodon Wines & Luxury Development Group, Inc. (OTCQB: VINO), a real estate development brand with luxury lifestyle assets and premium wines in Argentina, has been awarded a gold medal at the 2017 New York World Wine & Spirits Competition for its 2014 Bonarda.

The New York World Wine and Spirits Competition, held at the New York Academy of Medicine and organized by renowned industry expert Anthony Dias Blue, is a prestigious competition dedicated to showcasing new standards of competence to the buying public, demonstrating how the experts interpret the overall quality of a brand. Top wines receive medals from bronze through gold, judged on the merits of the wine alone, eliminating bias based on extraneous factors. The integrity of the competition stems from the quality, expertise and probity of the 11 highly esteemed judges, each with a professional background from various segments of the wine and spirits industry.

Bonarda, Argentina's second most widely planted red grape after the iconic Malbec, is perfectly acclimated to the Argentine soil, particularly in San Rafael's Cuadro Benegas district, where it is fed by the purest glacial runoff. Bonarda grapes in Argentina originated from Savoie, France where it is known as Corbeau. Bonarda, after its best characteristics were unveiled through refined viticulture techniques, has become a well-respected and popular red varietal worldwide.

"We are all so pleased to see our 2014 Bonarda receive such esteemed acclaim at the 2017 New York World Wine and Spirits Competition," said Scott Mathis, Founder and Chairman of Algodon Wines and Luxury Development Group. "This gold medal stands as a testament to the skill and dedication of our first-class winemakers, wine team and advisors, who give me great confidence that Algodon Fine Wines will continue to receive global recognition for our Bonarda varietals and blends. We believe Bonarda may very well follow in the footsteps of Malbec's popularity and association with iconic Argentine wines."

Tasting Notes

Mauro Nosenzo, Winemaker: "The Bonarda is well-known by its intense ruby-red colors up to the violets, continuing through Purples. It presents an intense nose and has a pleasant mouthfeel, sweet at first with good intensity. The oak-aging gives it excellent maturity in addition to the vanilla and toasty aromas. Bonarda pairs well with grilled meats and vegetables, as well as spiced dishes, pasta, legumes, roast beef and hard cheeses."

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 Fine Wines are currently available for sale in the United States through the award-winning Sherry-Lehmann and Specs online wine shops.

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 31, 2017. 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.

Contact Information

  • Media and Investor Relations:

    Algodon Group
    Rick Stear
    Corporate Communications & Marketing Manager
    212.739.7669
    rstear@algodongroup.com

    MZ Group
    Chris Tyson
    Managing Director - MZ North America
    Direct: 949-491-8235
    chris.tyson@mzgroup.us