US: E&J Gallo buys Ledgewood Creek Winery
E&J Gallo has acquired fellow Californian winery Ledgewood Creek for an undisclosed sum.
The deal, which completed last week, includes Ledgewood's 400-acre ranch in Suisun Valley, Solano County, next to Napa Valley, plus a winery and tasting room. The site currently has around 230 acres of vineyard.
A spokesperson for Ledgewood confirmed to just-drinks today (28 April) the transaction had completed. “It's a done deal,” he said.
Ledgewood Creek, which released its first wines in 2001, produces Chardonnay, Merlot, Sauvignon Blanc, Pinot Noir and Mourvèdre, which retail for around $16 per bottle.
There are no immediate plans to operate the Ledgewood Creek Winery or tasting room, Gallo said.
The property was being marketed by agents Strong & Hayden for a price of US$16.5m. However, terms of the final transaction were not disclosed.
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