Francis Ford Coppola Winery has bought facilities and vineyards at California's Geyser Peak Winery, according to a report.
//i2.aroq.com/1/accolade_wines_rgb.jpgThe deal does not include Geyser Peak's wine label and brand, both of which remain with Accolade Wines, The Press Democrat reported earlier this week. Accolade will continue to lease the tasting room and make wine on the property.
“Whenever things like this happen, there could be some change, but at this point everything's the same,” Tim Matz, managing director of Accolade Wines North America, was quoted as saying.
The Press Democrat said the purchase allows Coppola to extend capacity after a bumper grape harvest. No financial details have been disclosed.
Accolade reportedly acquired the winery from Ascentia Wine Estates in June for an undisclosed sum.
Sectors: Mergers & acquisitions, Wine
Companies: Accolade Wines
