US: Ascentia Wine Estates completes exit, sells brands to E&J Gallo
Gallo has made its first venture into the state of Washington with the acquisitions
Ascentia Wine Estates is understood to have completed its exit from the industry after selling its Columbia Winery and Covey Run brands to E&J Gallo Winery for an undisclosed sum.
The offloading of the two brands, announced on Monday (4 June), follows news last week that California-based Ascentia sold its Geyser Peak, Atlas Peak and XYZin brands to Accolade Wines. Both transactions proceed Ascentia's divestment of Ste Chapelle in Idaho to Precept Wine last month.
According to an industry website, Ascentia CEO Jim DeBonis emailed employees last month informing them they would no longer be employed by the company, once the Gallo deal had closed.
Ascentia's website also now contains an Accolade Wines logo.
Nobody was available for comment from Ascentoa at the time of publication.
Meanwhile, Gallo's acquisition of Columbia Winery and Covery Run marks its entry into Washington state. Roger Nabedian, Gallo's Premium Wine Division senior VP & general manager, said: "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.”
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