E&J Gallo Winery has announced its intention to purchase Courtside Cellars in San Miguel. The 12-year-old winery will support the company's continued growth in California's Central Coast. The purchase includes 34 acres of land and a winery capable of crushing 60,000 tons of grapes.
"We've been expanding our presence in the Central Coast over the past few years and consider the region to be a key part of our premium wine strategy moving forward," said Roger Nabedian, senior vice president and general manager of Gallo's Premium Wine Division.
San Francisco-based Demeter Group was the financial adviser on the deal, which is expected to close next week. The purchase price was not disclosed.
Earlier this year, Gallo purchased more than 300 acres of vineyards in Monterey County. Last year, the company purchased Edna Valley Vineyards, which produces one of the best-selling chardonnay brands in the U.S. In 2004, Gallo purchased Bridlewood Estate Winery located in the Santa Ynez Valley of Santa Barbara County.
(Compiled by Cathy Bussewitz. You can send items to firstname.lastname@example.org.)