Score one for local ownership.In an era when California wineries are being snatched up by global corporations, a Healdsburg company has bought five well-known California wine brands. Their headquarters will be a quick trip from most of the vineyards that produce their wines.
The five wineries - Geyser Peak, Atlas Peak, Buena Vista Carneros, Gary Farrell Winery and XYZin - were sold as part of a $209 million deal with Ascentia Wine Estates. The sale returns the wineries to local hands just six months after they were sold to wine and spirits giant Constellation Brands Inc., based in Fairport, N.Y.
The sale potentially marks the end of a game of hot potato for these labels, which have been swapped between large beverage companies for years.
Read More
