Newly-formed Ascentia Wine Estates Debuts with Acquisition of Million-Case Portfolio of Top Wines from California and Pacific Northwest
As part of the transaction the company also acquired 646 acres of prime vineyard land. Ascentia Wine Estates, based in Healdsburg, California, acquired the portfolio of labels from Constellation Brands.
11/06/08 Jim DeBonis, former COO of Beam Wine Estates, is pleased to announce the formation of Ascentia Wine Estates. The newly-formed company comprises a group of investors that includes William and Peter Deutsch, proprietors of leading wine importer W.J. Deutsch & Sons, Ltd., and GESD Capital Partners, a San Francisco-based private equity food and beverage investor.
Ascentia Wine Estates' first major acquisition is a portfolio of wineries representing a million-case annual production of highly rated wines from California and the Pacific Northwest: Geyser Peak Winery, Atlas Peak, Buena Vista Carneros, Gary Farrell Winery, XYZin, Columbia Winery, Covey Run and Ste. Chapelle. As part of the transaction the company also acquired 646 acres of prime vineyard land. Ascentia Wine Estates, based in Healdsburg, California, acquired the portfolio of labels from Constellation Brands.
"We are thrilled with this acquisition," said Ascentia Chief Executive Officer DeBonis. "These wines are consistently highly-rated and we are confident the brands will flourish in our highly focused portfolio. The size of the Ascentia portfolio, the superior quality of the wines, and our partnership with W.J. Deutsch & Sons, Ltd., who will serve as our exclusive sales and marketing agent, allows for immediate strength in the marketplace. We also believe this provides an excellent platform from which Ascentia Wine Estates can launch future acquisitions."
Peter Ekman, former CEO of Wine.com and now Ascentia Wine Estates' chief marketing and sales officer, in conjunction with W.J. Deutsch, will create a campaign that will allow Ascentia's new wines to "step into the limelight," according to DeBonis.
"These brands fit together exceptionally well to create a strong presence in the ultra-premium and luxury market segments," commented Bill and Peter Deutsch of W.J. Deutsch & Sons, Ltd., one of the country's foremost wine import and marketing companies. "As a marketing-led company, we pride ourselves on identifying and capitalizing on consumer-driven niches. Ascentia Wine Estates offers ideal product solutions for a number of strong growth opportunities that we have identified in the wine market."
The wines that comprise Ascentia Wine Estate's acquisition include:
Geyser Peak Winery -- Founded in 1880, Geyser Peak winery consistently garners some of the most prestigious awards in winemaking, including numerous Winery of the Year and Winemaker of the Year honors. Winemaker Mick Schroeter is noted for fruit-forward, food-friendly wines from Geyser Peak's 100 acres of estate vineyards in the Alexander Valley as well as from additional prime vineyard sources.
Atlas Peak -- Winemaker Darren Procsal's Mountain Cabernet crafts four distinct wines sourced from the most renowned mountain appellations in the Napa Valley: Atlas Peak, Mount Veeder, Spring Mountain and Howell Mountain. Atlas Peak Napa Cabernet also offers a blend of these mountain wines. Atlas Peak's most valuable resource is the elevation of its vineyards, located between 1,400 and 1,800 feet above the Napa Valley floor, an advantageous growing milieu for many varietals, but none more so than Cabernet Sauvignon.
Buena Vista Carneros -- Founded in 1857 as California's first premium winery, Buena Vista, under the direction of winemaker Jeff Stewart, focuses on cool-climate Pinot Noir, Chardonnay, Merlot and Syrah. Highly rated, these wines expertly capture the winery's unique, multifaceted 500-acre estate vineyard in Carneros.
Gary Farrell Winery -- Located in the heart of the Russian River Valley, Gary Farrell Winery is a boutique winery known for producing extremely sought after Pinot Noir and Chardonnay. Founding winemaker Gary Farrell was instrumental in elevating Russian River Valley Pinot Noir to its current vaunted status. For the past several years winemaker Susan Reedhas masterfully carried on the high standards of artisan winemaking that has established Gary Farrell wines' fame.
XYZin -- By creating a portfolio of Zinfandels from vines that span more than 100 years of California history, Ondine Chattan invites consumers to experience the thrilling range of this varietal with three exciting new Zinfandels: XYZin 10, XYZin 50, and, XYZin 100, each representing the minimum age of vines at time of harvest.
Columbia Winery -- Pioneering Washington winemaking since 1962, Columbia Winery was the first to produce several varietals in the state, including Syrah, Cabernet Franc and Pinot Gris. Columbia Winery winemaker Kerry Norton continues to experiment with new varietals and take the winery in exciting new directions.
Covey Run -- Covey Run celebrated its 25th anniversary in 2007. Since the release of its 1982 vintage, Covey Run has crafted wines from Washington's Columbia River Valley that have been embraced by consumers and wine writers, earning 20 Wine Spectator Best Values awards. Winemaker Kate Michaud's offerings include delicious wines for every occasion, from stylish entertaining to casual gatherings and picnics with family and friends.
Ste. Chapelle -- From atop the aptly named Winery Hill, Ste. Chapelle overlooks the fertile orchards and farmlands of the famed Snake River Valley in the region of Southwestern Idaho known as Sunny Slope. The valley's high altitude vineyards, which enjoy long daylight hours, supply Ste. Chapelle winemaker Chuck Devlin with the superior grapes for his award-winning creations.
