Precept Wine Acquires Canoe Ridge and Sagelands Wineries from Diageo

The Seattle-based company expands its Washington portfolio with two heritage wineries

SEATTLE, February 14, 2011-Effective immediately, Seattle-based Precept Wines has acquired Canoe Ridge and Sagelands from Diageo Chateau & Estate Wines, a 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,” said Precept Wines’ CEO and Founder Andrew Browne. “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.

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