California wine giant Carroll Winery has sold two enhanced wine brands to Seattle-based Precept Wines in an undisclosed deal.
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Precept Wines, which bills itself as the largest private wine producer in the Pacific Northwest, has acquired the enhanced wine brands Sheffield Cellars and Fairbanks from Carroll Winery.
The deal comes on the heels of an $810 million deal between Caro Wines and Constellation Group to acquire more than 30 wine brands from Constellation Group for $11 per bottle or less. Another $130 million deal was also officially approved for the New Zealand wine brand Nobilo and related assets.
Sheffield Cellars and Fairbanks were both early brands created by Gallo Winery when founding brothers Ernest and Julio Gallo recognized the domestic demand for aperitifs and fortified wines.
The wine is still expected to be produced in California, but Precept Wines said in a statement that the wine will be produced under the direction of the company"s winemaker Hal Landvoigt.
Andrew Browne, founder and CEO of preept, said:I am excited to add these versatile wines to Precept's growing portfolio and to expand our presence in the rapidly growing dessert wine segment. Our sales and marketing teams, along with our wholesale partners, are looking forward to building on the upside momentum of these great brands and categories.