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Gallo Buys Edna Valley Vineyard and Winery

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E & J Gallo has signed an agreement to purchase Edna Valley Vineyards and Winery. The winery is currently owned by Diageo and Paragon Vineyard Company in a joint venture. Edna Valley Vineyards sources some of its fruit from Paragon and Gallo has agreed to continue that relationship.

The purchase includes the Edna Valley estate vineyard and the winery, located in San Luis Obispo. Edna Valley Vineyard offers a wide range of varietal wines but specializes in Chardonnay. The deal is scheduled to close next week. Financial terms were not disclosed.

Gallo and Diageo are among the worlds largest wine companies. Other brands held by Gallo include Barefoot Cellars, Louis M. Martini, MacMurray Ranch, Ecco Domani, and William Hill Estate. Diageo owns Rosenblum Cellars, Sterling Vineyards and Chalone. They also own 34% of Moet & Chandon and distribute that Champagne and it's high-end brand Dom Perignon.

[PR Newswire]