US: E&J Gallo Winery to buy Edna Valley Vineyard
E&J Gallo Winery agrees to buy Edna Valley Vineyard from Diageo and Paragon
Gallo said that the deal, announced yesterday (28 June), will boost its presence in premium Chardonnay and in California's Central Coast wine country. Financial terms of the transaction were not disclosed.
Edna Valley is currently joint-owned by Diageo Chateau & Estate Wines Co and Paragon Vineyard Co. Gallo said that it will continue to source grapes from Paragon for Edna Valley's wines.
"The [Edna Valley] brand represents wines from a superior appellation," said the senior VP and general manager of Gallo's premium wine division, Roger Nabedian. The deal is expected to complete in the next few weeks, Gallo said.
Edna Valley has a winery and its namesake brand, as well as 44 acres of Chardonnay and Pinot Noir vineyards.
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