E&J Gallo Buys Edna Valley From DiageoJune 28, 2011
E&J Gallo is set to expand its presence in California’s Central Coast with the purchase of San Luis Obispo’s Edna Valley Vineyard from Diageo Chateau & Estate and Paragon Vineyard Company, which held Edna Valley in a joint venture. The purchase includes the premium Edna Valley brand, winery, and 62 acres, of which 44 are planted to Chardonnay and Pinot Noir.
Gallo will continue to source grapes from Paragon as part of the deal, expected to close in the next few weeks. Financial terms weren’t disclosed. “Edna Valley will help us expand both our footprint in the Central Coast and in the Chardonnay category,” said Roger Nabedian, senior vice president and general manager of Gallo’s premium wine division. “The brand represents wines from a superior appellation and is well positioned to offer consumers wines of extraordinary value long into the future.”
Edna Valley Vineyard was an Impact Hot Brand for 2006, 2007 and 2009, rising to 375,000 cases in the latter year, before falling 18% to 306,000 cases in calendar 2010, according to Impact Databank.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Diageo, E&J Gallo, wine
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