PRECEPT BRANDS ACQUIRES ONE OF WASHINGTON’S OLDEST WINERIES

Precept Brands, the third largest wine company in Washington State, has purchased Waterbrook Winery of Walla Walla, Washington. The deal includes the brand, inventory and tasting room in downtown Walla Walla, but not Waterbrook's production facility or vineyards. Financial terms were not disclosed.

Precept will immediately assume sales and marketing responsibilities for Waterbrook, which was founded in 1983 by Eric Rindal who will continue to be involved in the winemaking process. Waterbrook was the fourth winery established in Walla Walla, which now has more than 100 wineries.

Waterbrook is expected to sell more than 30,000 cases of wine in 2006, while Precept is expected to market and sell close to 500,000 cases of wine in 2006.

Precept Brands was founded in 2003 by former Corus Brands CEO Andrew Browne and is considered the fastest growing wine company in Washington State. Their portfolio includes brands from Washington, New Zealand, France and Chile.