Healdsburg, California – July 31, 2015 – International Wine Associates (IWA), the leading wine industry mergers and acquisitions advisory firm, announced today that IWA served as exclusive advisors and represented Australia’s Treasury Wine Estates Limited (ASX: TWE) in the sale of the Asti Winery and the Souverain wine brand to E. & J. Gallo Winery (Gallo).
Located in Sonoma County’s Alexander Valley, the Asti Winery was established in 1881. Known then as Italian Swiss Colony, today the Asti Winery spans 535 acres with a winery facility capable of crushing 35,000 tons of grapes and includes 275 acres planted to vineyard.
According to Roger Nabedian, Senior Vice President and General Manager of Gallo’s Premium Wine Division, “We are thrilled to add the Asti Winery and Vineyards into our North Coast fine wine operations. The property is filled with rich history and is located in a wine growing region that consumers recognize as being among the world’s best.” Founded by brothers Ernest and Julio Gallo in 1933 in Modesto, California, E. & J. Gallo Winery is the world’s largest family-owned winery and the acclaimed producer of award-winning wines and spirits featured in more than 90 countries around the globe.
“We are excited to have represented Treasury in this important sale.” said Robert Nicholson, partner at IWA. “Since the beginning of 2014 IWA has now sold over $180 million of wine industry assets and businesses in California, Oregon and Washington.”