SEATTLE, February 14, 2011—It was announced today that 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.”
In addition to the wineries, 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.
About Precept Wines:
Founded in 2003 by Andrew Browne, Precept Wines is the second largest and fastest growing wine company in the Northwest (and largest privately owned). Based in Seattle, Precept Wines has built a portfolio of premium wines from the Northwest and abroad that appeal to consumers and trade audiences alike.
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. The quality driven portfolio has garnered more than 125 Best Buy ratings and over sixty 90+ point scores from leading wine publications including Wine Enthusiast, Wine Spectator, The Wine Advocate and Wine & Spirits.