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RAPAPORT... Retailer and jewelry maker Alex & Ani LLC of Rhode Island purchased the Sakonnet Vineyards in Little Compton for approximately $8.5 million. The purchase includes the Sakonnet Vineyards grounds, an additional 70 acres of five-lot subdivisions and a residential component building on this coastal community with frontage on the Atlantic Ocean and Sakonnet River in Narragansett Bay.  Giovanni Feroce, the chief executive of Alex & Ani, said, the company will reinvent the surrounding community and economy. ''Sakonnet Vineyards represents a true Rhode Island success story. Since its founding in 1975, the winery has experienced impressive growth and has become an industry standard of excellence for the entire New England region. Wine production from Sakonnet Vineyards has steadily climbed to over 30,000 cases bottled annually, and many varieties have garnered domestic and international awards, including Boston Magazine's 'Best Winery in New England' 2006.'' Sakonnet Vineyards is comprised of 170 acres, 50 of which are planted with many varietals of Vinifera, including Chardonnay, Gewürztraminer, Pinot Noir, and Cabernet Franc, as well as the French-American hybrid, Vidal Blanc. The microclimate and soil conditions found along the southern New England coast closely resemble some of the great wine regions of the world, in particular, the maritime climates of northern France. Designer Carolyn Rafaelian, the Alex & Ani Owner, added, ''I can't help but be struck by the many parallels between our business and Sakonnet Vineyards. Both our companies were born of the desire to redefine their industries and re-invigorate our shared local and regional economies. We are, symbolically and literally, of the earth, we grow organically, and we're identified with good taste. We make a perfect pairing.''
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