US: Precept seals Waterbrook purchase
Precept Brands has acquired the Washington-based Waterbrook Winery for an undisclosed sum.
The acquisition was sealed on Friday (1 December), and sees Precept assume immediate sales and marketing responsibilities for Waterbrook. The companies noted, however, that the purchase does not include Waterbrook's production facility or vineyards.
"It was a difficult move for me to sell the winery that I have lived and breathed for over 20 years," said Waterbrook's founder, Eric Rindal. "It was imperative to me to find the perfect partner to help us grow the brand while maintaining the integrity of what I have worked so hard for."
Located in Walla Walla in Washington state, Waterbrook was founded in 1983. The winery expects to sell over 30,000 cases this year, with retail prices ranging between US$12 and $45 per bottle.
Precept Brands was formed in 2003, and produces, markets and sells a portfolio of brands from Washington, New Zealand, France and Chile.
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