Ascentia Sells to Accolade and Gallo

Dear Client: The story of Ascentia Wine Estates is coming to a close. Australian-based Accolade Wines has acquired California's Geyser Peak, Atlas Peak and XYZin from Ascentia, which includes their assets and inventory. Also this morning E&J Gallo confirmed rumors that it purchased Columbia Winery and Covey Run. This marks Gallo's initial foray into Washington State. ACCOLADE MAKES STRIDES IN THE US. Note that Accolade was created after private equity group CHAMP acquired an 80% stake in Constellation's Australian and