US: Accolade, Gallo Confirm Ascentia Acquisitions
US: Accolade, Gallo Confirm Ascentia Acquisitions
Jun 5, 2012 6
(ShankenNewsDaily) - Accolade Wines and E&J Gallo have confirmed their acquisitions of certain Ascentia Wine Estates brands as reported on Friday by Shanken News Daily. Accolade has acquired premium California wine brands Geyser Peak, XYZin and Atlas Peak for an undisclosed sum, while Gallo has entered Washington state for the first time with the purchase of the Columbia Winery and Covey Run brands and associated production facilities in Woodinville and Sunnyside, also for an undisclosed amount. The deals effectively mark the end of Ascentia’s tumultuous run in the wine business, which began in 2008 when the company was created through the $209 million acquisition of a host of wine brands from Constellation.
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