Jim DeBonis, former COO of Beam Wine Estates, has announced the formation of Ascentia Wine Estates, Healdsburg. Ascentia Wine Estates' first major acquisition is a portfolio of wineries representing a million-case annual production of highly rated wines five from California and three from the Pacific Northwest. The company also acquired 646 acres of prime vineyard land. Ascentia Wine Estates acquired the portfolio of labels from Constellation Brands.
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.
"We are thrilled with this acquisition," says Ascentia CEO 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.
Friday, July 4, 2008
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