Crimson Wine Group Ltd., owner and operator of premium wineries across the West Coast, and Purple Brands, a prominent California-based wine and spirits company, announced that Crimson Wine Group has acquired the critically acclaimed Raeburn wine brand from Purple Brands.

Founded in 2013, Raeburn is a premium wine brand producing approximately 250,000 cases annually from facilities in the Russian River Valley of Sonoma County, Calif. Raeburn’s wines are distributed in major grocery stores, independent retailers and restaurants throughout the United States.

The transaction, which also includes certain inventory assets, is effective immediately and provides Crimson Wine Group with greater scale, adding to Crimson’s more than 400,000 average cases produced annually, along with a proven brand in the ultra-premium Chardonnay and Pinot Noir categories.

“The acquisition of Raeburn reinforces our position as a leading fine wine company,” said Jennifer Locke, Crimson CEO in a statement. “The Raeburn portfolio, rooted in Sonoma County, will significantly increase our market presence and relevance with our retail and on-premise customers through a portfolio of varietals selling in the $15 to $25 retail price points. Raeburn is led by one of the Top 10 largest Chardonnay brands sold domestically, providing Crimson with a proven player in the growing luxury Chardonnay and White Wine categories.”

Subject to market conditions and availability of capital on terms acceptable to Crimson, Crimson can execute a rights offering later this year that would allow shareholders an opportunity to further invest in the future of the company.

Purple Brands’ founder, owner and Chairman Derek Benham added: “This transaction is a win-win for both buyer and seller. It allows us to better focus on and further develop our spirits business, which includes our iconic Redwood Empire Whiskey brand, and gives Crimson a well-known, high-quality wine brand, adding to its rich and respected portfolio. Raeburn has been a tremendous success story and passing it to a dedicated wine group like Crimson ensures the brand's continued ascent.”