I will have more details on this coming up this evening, but the New Mexico bubbly house, Gruet Winery, has purchased the CapRock Winery, and does have plans to begin production of Texas "Champagne".
Early estimates that I had been hearing for the purchase price of the winery had been in the $2-3 million range, but when the smoke had cleared, the final damage came in at $6.5 million. The auction took little more than a minute and a half, and the tall, handsome Frenchman was left holding the winning number. Should be interesting to see what this means for Texas wine.
Update: Details of the auction, as well as video of the actual auction are now up here.