E. & J. Gallo Makes Foray Into Washington
June 5, 2012 E. & J. Gallo Winery announced Monday the purchase of Washington’s Columbia Winery and Covey Run Wine brands from Ascentia Wine Estates.
Gallo has purchased the two wine brands and taken over the operation of the Woodinville and Sunnyside facilities. The purchase marks Gallo’s first expansion into the state. No price was given.
Roger Nabedian, senior vice president and general manager of Gallo’s premium wine division, said the acquisitions fit neatly into the Modesto, CA, company’s growth strategy.
“We have been watching the Washington wine industry grow for a number of years and consider these wine brands to be a key part of our premium wine strategy moving forward,” he said. “This purchase will help us expand our footprint and offer our customers wines from the Columbia Valley and Yakima Valley Appellations.”
Washington is America’s second largest wine-producing state, after California, with 650 wineries and more than 36,000 acres of vineyards. It produces a wide variety of premium wines from more than 30 leading varietal types and is comprised of 11 distinct winegrowing regions.
Demeter Group, a San Francisco-based investment bank for consumer retail companies, acted as Ascentia’s exclusive financial advisor.
Gallo’s wine portfolio includes Gallo Family Vineyards, Barefoot Cellars, Louis M. Martini, MacMurray Ranch, Bridlewood, Mirassou Vineyards, Frei Brothers, DaVinci, Martin Codax, Don Miguel Gascon, Ecco Domani, McWilliam’s Hanwood Estate, and William Hill Estate. Recently, the company has expanded its portfolio to include distilled spirits with the introduction of New Amsterdam Gin and Familia Camarena Tequila.
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