Gallo buying Edna Valley Vineyard
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Established as a winery in the early 1980s (some of the vineyards date back to the 1970s), Edna Valley Vineyard is located just south of San Luis Obispo. It sells about 300,000 cases of wine a year, mostly Chardonnay and Pinot Noir.
The deal is expected to close in the next couple of weeks. The purchase price has not been released, but the package includes the winery and more than 60 acres of vineyards.
Edna Valley Vineyard was originally a project of Paragon Vineyard Co., which planted the first grapevines in the 1970s. In 1980, Chalone Wine Group joined in a partnership to form the actual winery. Chalone’s share was bought by wine conglomerate Diageo in 2005. Now Gallo is buying out both partners.
-- Russ Parsons