NAPA, Calif., June 1, 2012 /PRNewswire/ -- Global wine producer and distributor Accolade Wines has expanded its North American base by acquiring legendary Californian brand Geyser Peak and stablemates Atlas Peak and XYZin, together with their assets and inventory, from Ascentia Wine Estates.
Accolade Wines, the world's fifth largest wine company, has a significant global footprint. However, Chief Executive Officer, Troy Christensen, said this new deal would spearhead Accolade Wines' growth in the United States.
"I am delighted to welcome Geyser Peak, Atlas Peak and XYZin to the Accolade Wines' family, their acquisition will allow us to leverage the expertise we already have in global distribution and innovation and help us to develop the opportunities we see emerging within the United States," said Christensen.
"Initially we see that there is tremendous opportunity within the U.S. to grow these brands but we also have the capacity to fit them within the portfolio we are now marketing in Europe, United Kingdom and the rapidly developing Asian markets, especially China."
"Alexander Valley-based Geyser Peak in Sonoma and Napa Valley-based Atlas Peak bring two of California's best appellations into our portfolio, which already includes top brands from key Australian, South African and old world wine regions.
"We plan to bring to the U.S. our category, customer and consumer expertise which has underpinned our strength in the European and Australian markets," said Christensen.
As part of the deal Accolade Wines will be leasing Geyser Peak's iconic homestead, its winery, 98 acres (38 ha)of prime Cabernet Sauvignon vineyard and the winery's cellar door.
Accolade Wines North America Managing Director, Tim Matz, said Accolade Wines now had a great opportunity to invigorate the fortunes of these iconic Californian wines.
"These brands have a great deal of history and resonance within the California story, this is a great opportunity to reinvigorate with investment," said Matz.
"Geyser Peak in the Alexander Valley has an outstanding reputation, it's one of the most awarded wineries in Sonoma County and we will be exploring the opportunity to expand the higher end of the range, while bringing new products to market. We see Geyser Peak homestead as the centerpiece of a range of outstanding experiential events that will help bring new lustre to the shining Geyser Peak story," said Matz.
For further information contact:
Tim Matz, Managing Director North America, (US) +01 707 637 6798
Linda Sanpei, Public Relations North America, (US) +01 805 550 9150
Anita Poddar, National Public Relations Manager (Aus) +61 (0)417 819 978
Adam Withrington, PR & Events Controller (UK) + 44 (0) 7500 994 193
Tamara Stanfill, PR Events Manager (UK) + 44 (0) 7909 886 036
SOURCE Accolade Wines