California winery Gallo finalizes purchase of Four Roses Bourbon
E. & J. Gallo Winery, a major California wine manufacturer, has acquired a bourbon brand based in Kentucky in a deal worth up to $775 million, as announced by the company.
Chief commercial officer Britt West stated in a press release, “Four Roses is one of the most respected bourbons in the world – defined by heritage and craftsmanship. We are committed to upholding Four Roses’ quality and building the brand as a cornerstone of our portfolio.”
The acquisition comes after Gallo laid off around a hundred jobs and closed its Napa Valley production facility. The company also made cuts at some of its prestigious labels, including the Louis M. Martini Winery and the Orin Swift Tasting Room in St. Helena.
Gallo also closed Courtside Cellars in San Luis Obispo County last year and let go of 47 workers. The company, recognized as the largest wine company globally, acquired the bourbon brand from Japanese firm Kirin Holdings.
Market dynamics and evolving consumer demand were cited as reasons for the recent layoffs by a spokesperson for Gallo. The team at Four Roses will remain in place.
The acquisition will allow Gallo to enter the premium spirits market and cater to the increasing international demand. The company sees American whiskey as a strategic addition to its portfolio, according to Bourbon & Banter.
