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News
Gallo eyes Courtside Cellars
E&J Gallo has announced its intention to purchase Courtside Cellars in San Miguel, California.
The purchase includes 34 acres of land and a winery capable of crushing 60,000 tons of grapes. The 12-year-old winery will support the company’s continued growth plan in California’s Central Coast.
Roger Nabedian, senior vice president and general manager of Gallo’s Premium Wine Division said, “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. We are excited to have this highly capable winery to support our Bridlewood and Edna Valley Vineyards businesses.”
Earlier this year, Gallo purchased more than 300 acres of vineyards in Monterey County.
While last year, the company purchased Edna Valley Vineyards which produces one of the best-selling Chardonnay brands in the US. In 2004, Gallo purchased Bridlewood Estate Winery located in the Santa Ynez Valley of Santa Barbara County.
Bob Schiebelhut, of Courtside Cellars, said, “We will be keeping our San Luis Obispo Facility where we will focus our efforts on building our Tolosa Winery brand into one of the finest Pinot Noir and Chardonnay estates, as well as continue to offer custom wine services.”
San Francisco based Demeter Group was the exclusive financial advisor on the deal which is expected to close next week. The purchase price was not disclosed.