Diageo Sells Washington Wineries to Precept

Dear Client: Diageo Chateau & Estate Wines has offloaded two more of its wineries - in this case Washington-based Canoe Ridge and Sagelands - to Seattle based Precept Wines for an undisclosed sum. The deal is effective immediately. "The addition of Canoe Ridge and Sagelands to our portfolio of wines greatly strengthens our commitment to quality winemaking in Washington state," said Precept Wines' ceo and founder Andrew Browne. "We are dedicated to investing in both brands for the foreseeable future."