E&J Gallo has offloaded two brands from its dessert wine portfolio, with Fairbanks and Sheffield Cellars transitioning to US peer Precept Wine.
The group, which finally completed its purchase of a raft of wine and spirits brands from Constellation Brands this month, has sold the two US brands to Precept for an undisclosed sum. Confirming the transaction yesterday, Seattle-based Precept said the production of the pair “is expected to remain” in California.
“I am thrilled to add these versatile wines to Precept’s growing portfolio and expand our footprint in the burgeoning dessert wine category,” said Precept founder & CEO Andrew Browne. “Our sales and marketing teams, along with our wholesale partners, are looking forward to building on the upward momentum of these great brands and categories.”
Gallo CEO Ernest Gallo added: “We are glad to have found in Precept a buyer that will respect the history of the Sheffield Cellars and Fairbanks brands and will continue making these quality dessert wines … .”
The Fairbanks portfolio comprises:
- Port – 75cl, 1.5-litre & 3-litre
- Sherry – 75cl & 1.5-litre
- Cream Sherry – 75cl & 1.5-litre
- White Port – 1.5-litre, and
- Cocktail Pale Dry Sherry – 1.5-litre
The Sheffield Cellars stable is made up of:
- Tawny Port – 1.5-litre
- Cream Sherry – 1.5-litre
- Very Dry Sherry – 75cl & 1.5-litre, and
- Marsala – 75cl & 1.5-litre
Privately-held Precept also owns the Chocolate Shop and Waterbrook wine brands. The company has vineyards in Washington, Idaho, New Mexico and Oregon.
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