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SEATTLE, Jan. 15, 2021 /PRNewswire/ -- Precept Wine, the largest privately held wine producer in the Pacific Northwest and a top 12 American wine producer, is excited to announce the acquisition of the Sheffield Cellars and Fairbanks dessert wine portfolio from E. & J. Gallo Winery (Gallo). Sheffield Cellars and Fairbanks are award winning dessert wines, excellent as an aperitif but also perfect for complimenting many recipes. The wines were launched by Gallo in their early days when the brothers saw a need for domestic aperitif wines. Precept looks forward to continuing to craft these wines in the time-honored tradition for which they are known under the guidance of Precept's acclaimed winemaker Hal Landvoigt. Production is expected to remain in California. Whether for a sweet treat at the end of a fine meal or incorporated into your favorite dishes, Sheffield Cellars and Fairbanks offer exceptional quality at a value-oriented price point. The Sheffield Cellars portfolio includes Tawny Port (1.5L), Cream Sherry (1.5L), Very Dry Sherry (750mL, 1.5L) and Marsala (750mL, 1.5L). The Fairbanks portfolio features Port (750mL, 1.5L, 3L), Sherry (750mL, 1.5L), Cream Sherry (750mL, 1.5L), White Port (1.5L) and Cocktail Pale Dry Sherry 1.5L "I am thrilled to add these versatile wines to Precept's growing portfolio and expand our footprint in the burgeoning dessert wine category. Our sales and marketing teams, along with our wholesale partners, are looking forward to building on the upward momentum of these great brands and categories," commented Andrew Browne, Founder and CEO. "We are glad to have found in Precept a buyer that will respect the history of the Sheffield Cellars and Fairbanks brands and will continue making these quality dessert wines for consumers to enjoy," said Gallo's CEO Ernest J. Gallo. The dessert wine category continues to experience solid growth, up 15% in dollar volume and 10% in case volume. Port (+11%), sherry (+7%) and marsala (+16%) are all on the upswing sparked by the recent increase in at home cocktails and cooking. Additionally, Fairbanks is the second largest dessert wine brand and growing. (Nielsen 52 Weeks Ending 12/26/20 US XAOC + Liquor Plus). Coupled with Precept's iconic Chocolate Shop wine and the recently released A.G. Perino Sweet and Dry Vermouths, the company looks forward to both growing and innovating in the sweet wine and dessert category. Sheffield Cellars and Fairbanks are distributed and available nationally. Seattle-based Precept Wine is the largest privately held wine producer in the Pacific Northwest and a top 12 American wine producer. With deep roots representing more than 30 years of Northwest investments in the wine industry, Precept owns and maintains nearly 4,000 planted vineyard acres across Washington, Idaho, New Mexico and Oregon; such leading wine brands as Waterbrook, Gruet, Browne Family Vineyards, Canoe Ridge Vineyard, House Wine, Pendulum, Primarius, Washington Hills, Battle Creek Cellars, Callaway Cellars, Ste. Chapelle, Cense, Sheffield Cellars, Fairbanks and AG Perino Vermouth, plus tasting rooms and hospitality throughout the Pacific Northwest and New Mexico. Founded in 2003 by Andrew Browne and Dan Baty, the company's wineries have garnered more than 800 combined best buys and critical scores exceeding 90 points. Learn more at www.preceptwine.com. SOURCE Precept Wine Related Links http://www.preceptwine.com

Answer: Precept Sweetens Its Portfolio with Acquisition of Sheffield Cellars and Fairbanks Dessert Wine Brands