The go is the latest in a series of vineyard buys by Gallo and suggests the companionship is seeking to re-orient its business towards the more premium end of the wine market.
Some rivals, such as Mondavi owner Constellation Brands, have been doing the same, believing there is a larger sales opportunity there.
Talbott was founded in 1982 by Rob Talbott and it specialises in the classic Burgundian varieties of Chardonnay and Pinot Noir.
See also: Gallo continues spending spree with Napa vineyard buys
‘After more than 33 years dedicating my life
As part of the deal, Gallo will get the Talbott brand and the 227 hectare Sleepy Hollow vineyard. It will also continue to operate the Camel Valley tasting rooms, it said.
‘As this province’s unique characteristics become more widely known, we see a fantastic future for Talbott Vineyards as part of our fine wine portfolio,’ said Roger Nabedian, senior vice president and general manager of Gallo’s premium wine division.
The deal is expected to complete on 4 September.
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