Exclusive: With Washington Portfolio Rising, Precept Grows Vineyard HoldingsSeptember 19, 2016
Seattle-based Precept Wine has boosted its property holdings with the acquisition of 62 acres of land in Washington’s Yakima Valley. The new tract, acquired for an undisclosed price, will be planted with Cabernet Sauvignon, Malbec and Petit Verdot. It borders Precept’s existing Skyfall Vineyard, and is projected to bring Skyfall’s planted footprint to a total of 162 acres by next spring. Precept acquired Skyfall Vineyard in 2013.
The expansion comes as Precept’s Pacific Northwest portfolio continues to post gains. The group’s largest brand, House Wine (around $11 a 750-ml.), was up 3.6% to 175,000 nine-liter cases last year, according to Impact Databank. Bolstered by its foray into the premium boxed wine segment, the brand’s lineup includes a Cabernet Sauvignon, Chardonnay, Malbec, Moscato, Merlot, Pinot Grigio, Pinot Noir, Riesling, Sauvignon Blanc and a red blend, with select varietals available in the brand’s boxed format ($20 a 3-liter).
Also gaining ground is Precept’s Canoe Ridge range ($15-$24 a 750-ml.), which recently earned Impact “Hot Prospect” honors after surging more than 37%, to 73,000 cases last year. Washington portfoliomate Waterbrook ($14-$24) is also rising, passing the 100,000-case mark on nearly 10% growth in 2015. Skyfall Vineyard currently supplies grapes for Waterbrook, as well as for Canoe Ridge’s Expedition Sauvignon Blanc. —Christina JelskiSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.