(Winemag) - U.S.-owned winemaker Ruffino has acquired three vineyards in Italy’s Veneto region, aiming to significantly expand its Prosecco production, General Manager Sandro Sartor told Wine Enthusiast. The acquisitions raise Ruffino’s holdings by 311 acres (126 hectares).

“This acquisition of several hectares of vineyards and a state-of-the-art cellar marks a historic turning point for Ruffino,” Sartor said in an email. “With this investment, we changed our business model in the Veneto region, and we will be able to support the current and future growth.”

Financial details were not disclosed, but real estate experts in the Treviso area valued the deal at an estimated $34 million (30 million euros).