Wine Talk

Snooth User: John Andrews

Constellation Brands selling Sonoma Wineries ...

Posted by John Andrews, Jun 10, 2008.

"Wine company Constellation Brands Inc. said Tuesday it sold certain U.S. wine assets to Eight Estates Fine Wines LLC for $209 million in cash.

The company said it could receive up to another $25 million if certain objectives are achieved by Eight Estates, which is also known as Ascentia Wine Estates.

Assets from Geyser Peak, Buena Vista, Gary Farrell, Atlas Peak, XYZin, Columbia Winery, Covey Run and Ste. Chapelle were included in the sale."

The full article is here:

http://money.cnn.com/news/newsfeeds...

This was one of the more surprising things that I learned when I got more involved in the wine industry. Many of the 'big name' wineries are part of conglomerates. It is surprising to find out that many smaller wineries are actually owned by a huge corporation.

Replies

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Reply by Philip James, Jun 10, 2008.

Yeah, its pretty scary. Constellation, Fosters, Gallo and a few others control around 85% of wine sold in the US.

And there's nothing like thinking you are buying wine from a family owned vineyard to then discover its owned by a billion dollar conglomerate

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Reply by Chris Carpita, Jun 10, 2008.

I sense a "Truth in Bottle" act coming along to clean up this mess. I don't really care who owns this stuff, but what I really want to know is how they are adulterating their wine to meet the requirements of their new bean-counting masters.


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