Winebusiness.com - Homepage for the Wine Industry

Precept Wines Acquires Canoe Ridge And Sagelands Wineries From Diageo


Date: 02/14/11

The Seattle-based company expands its Washington portfolio

Seattle-based Precept Wines announced this morning that it has acquired Canoe Ridge and Sagelands from Diageo Chateau & Estate Wines, the London-based alcoholic beverage company.

“The addition of Canoe Ridge and Sagelands to our portfolio of wines greatly strengthens our commitment to quality winemaking in Washington state,” Precept Wines’ CEO and Founder Andrew Browne said in a press release. “We are dedicated to investing in both brands for the foreseeable future.”

The acquisition also includes the Canoe Ridge estate vineyard located in the Horse Heaven Hills AVA (153 planted vinifera acres).

“We view the Horse Heaven Hills as a premier grape growing region in the state,” said Browne. “We are excited to take a more active role in the development and marketing of this premier vineyard.”

Both Canoe Ridge and Sagelands have a long history in Washington state. Founded in 1994, Canoe Ridge was originally created as a joint partnership between a group of local Walla Walla investors and Chalone Wine Group of Napa, CA. Sagelands was established in 1984 and acquired by Chalone Wine Group in 1999. Both were sold to Diageo Chateau & Estate Wines in 2004.

Founded in 2003 by Andrew Browne, Precept Wines is the 2nd largest and fastest growing wine company in the Northwest (and largest privately owned).

Over the course of eight years Precept Wines has evolved into an integrated wine company that owns more than 3,700 vineyard acres, employs a team of winemakers and operational staff at seven production facilities and operates seven tasting rooms.

For more on the acquisition, check out the Q&A with Andrew Browne on Paul Gregutt's blog today.
 

Subscribe to Daily news Email

FREE Wine Business Daily News delivers the industry's top stories emailed to you from our editorial team.

most popular daily news links

latest used barrels

- used barrels  •  Dec 18, 2014 at 8:02AM PST
- used barrels  •  Dec 18, 2014 at 8:02AM PST
- used barrels  •  Dec 18, 2014 at 8:02AM PST
- used barrels  •  Dec 17, 2014 at 8:43AM PST
- used barrels  •  Dec 17, 2014 at 4:20AM PST

latest real estate

- real estate  •  yesterday at 9:10AM PST
- real estate  •  Dec 10, 2014 at 9:31AM PST
- real estate  •  Dec 2, 2014 at 9:34AM PST
- real estate  •  Nov 28, 2014 at 2:29PM PST
- real estate  •  Nov 25, 2014 at 9:51AM PST

latest used equipment

- used equipment  •  Dec 18, 2014 at 3:23PM PST
- used equipment  •  Dec 18, 2014 at 3:23PM PST
- used equipment  •  Dec 18, 2014 at 3:23PM PST
- used equipment  •  Dec 18, 2014 at 11:05AM PST
- used equipment  •  Dec 18, 2014 at 9:40AM PST

latest services & supplies

- services & supplies  •  Dec 18, 2014 at 7:36AM PST
- services & supplies  •  Dec 16, 2014 at 12:55PM PST
- services & supplies  •  Dec 15, 2014 at 11:21AM PST
- services & supplies  •  Dec 13, 2014 at 6:52AM PST
- services & supplies  •  Dec 13, 2014 at 6:52AM PST

industry events

Search Events:

Copyright© 1994-2014 by Wine Communications Group. All Rights Reserved. Copyright protection extends to all written material, graphics, backgrounds and layouts. None of this material may be reproduced for any reason without written permission of the Publisher. Wine Business Insider, Wine Business Monthly, Grower & Cellar News and Wine Market News are all trademarks of Wine Communications Group and will be protected to the fullest extent of the law.