California's historic Concannon Vineyard is being purchased by The Wine Group, a bag-in-the-box wine giant that has been on a shopping spree in recent years.
The sale price was not disclosed. The deal, set to close in July, includes the brand and all inventories, as well as the winery and 170 acres of vineyards on the estate, which is located in Livermore Valley, east of San Francisco.
"I think Concannon is a great brand," said David B. Kent, CEO of The Wine Group. "It's a great facility, rich in history, and it has been in vines since 1883."
Concannon, which produces about 55,000 cases annually, has been owned since 1992 by Tesla Vineyard, an investment group that includes members of the Wente family, which owns Wente Vineyards, another historic Livermore Valley winery.
The Wine Group, based in San Francisco, is one of the largest producers by volume in the United States. Its brands range from bag-in-a-box labels like Franzia to kosher mainstay Mogen David to "fighting varietal" bottlings such as Glen Ellen and Corbett Canyon.