With apologies to the late, great Yogi Berra, last week's bombshell announcement that Australia's Treasury Wine Estates had purchased all of the U.S. wine properties owned by drinks giant Diageo had the feel of deja vu all over again.

Treasury is a relatively new company. It was formed from the carnage of the Foster's Group misadventure that resulted from the beer company's purchase of the former Beringer Wine Estates, at the time one of the most successful luxury wine companies in the United States, in 2000.

To say that Foster's Group mismanaged that acquisition would be putting it mildly. In the intervening years the chateau at Chateau Souverain, one of the Beringer properties, was sold off and eventually the brand was sacrificed, too. At Meridian Vineyards, another successful brand under Beringer, the former winemaker was told she could no longer afford to buy barrels for aging her red wines. She resigned, of course.

The public relations department, once a model for the domestic wine industry, was decimated over time. Marketing cutbacks curtailed much of the company's investment in wine competition entries, which had been another hallmark of the previous Beringer management.

So, why should we believe that things will turn out any better this time around, that TWE will be a good steward for the exceptional wineries (Beaulieu, Sterling, Acacia, Provenance, et al.) it just acquired?

I'm actually optimistic. The TWE CEO, Sydney-based Mike Clarke, has been in charge for less than two years and has already steered Treasury back to profitability. And he moved quickly after the sale was announced to reassure everyone that Treasury cares about more than its core brand, Penfolds.

The acquisition, he said, will shore up vineyard sources for Treasury's existing stars in California, Beringer Vineyards and Chateau St. Jean. And the week prior to the announcement veteran wine industry publicist Megghen Driscol was hired to lead the public relations department.

The brand to watch closely to gauge TWE's commitment is Sterling. The Napa Valley star produces a number of ultra-premium red wines, but its biggest presence in the market currently is its impressive Vintner's Collection line of inexpensive wines in the $15 range. Quality is exceptional for the price.

If Treasury is truly serious about changing the ending to this movie many of us think we've seen already, it will do nothing to water down the quality of Vintner's Collection, which is on a successful track.

Best Value

Wines are rated on a 100-point scale. Wines are chosen for review because they represent outstanding quality or value, and the scores are simply a measure of this reviewer's enthusiasm for the recommended wine.

J Vineyards 2014 Pinot Gris, California ($18) — The J Pinot Gris has been a personal favorite since the winery launched it more than a decade ago, so no surprise I find it a continuing delight from a very good vintage. The 2014 shows bright notes of melon, peach and tropical fruits, with juicy acidity and exquisite balance. Pair it with everything from fish to chicken to spicy shrimp or even grilled brats. It also makes for a stunning aperitif. Rating: 90.

Folie a Deux 2012 Merlot, Alexander Valley ($20) — This supple Merlot from the Alexander Valley exhibits ripe red-fruit aromas with hints of dried herbs and spice. On the palate it is balanced, with mouthwatering acidity and soft tannins, making it a beautiful wine for serving now. Try it with roast chicken or grilled veal or lamb chops. Rating: 88.

Liberated 2013 Pinot Noir, Monterey ($20) — The most common issue with inexpensive pinot noir is unbearable lightness. There is nothing thin or insipid about this earthy pinot from Monterey, a perfect pinot fix for tailgate parties and savory autumn dishes. It shows notes of forest floor and mushroom, with a hint of strawberry and raspberry on the palate. Rating: 86.

Tasting Notes

Silverado Vineyards 2014 Sauvignon Blanc, Miller Ranch, Napa Valley ($22) — Silverado's Miller Ranch sauvignon is a complex expression of sauvignon that avoids the one-dimensional aspect that characterizes so much New World sauvignon today. Showing notes of white peach and tart citrus, it tantalizes the palate and refreshes with mouthwatering acidity. Beautiful with lightly grilled fish or spicy tapas, but also a brilliant sipper that would please even a tough wine crowd. Rating: 94.

Northstar 2011 Merlot, Columbia Valley ($40) — Northstar continues to be one of the shining stars of the domestic merlot world, but in no small part because it is one of the handful that could impersonate the structure, depth and personality of a merlot from Pomerol or Saint-Emilion. This 2011 is a wonderful merlot with its best days yet to come. Tightly packed with deep, dark-fruited aromas and firm tannins, it requires at least another five to seven years in a good cellar to even approach maturity. Buy now; open later. Much later. Rating: 93.

Migration 2013 Pinot Noir, Russian River Valley ($38) — Migration's 2013 RRV pinot is a delicate pinot in the best sense of the term. Showing aromas of red fruits with firm but beautifully integrated tannins, it has the persona of a village wine from Burgundy's Cotes de Beaune. The grip on the finish will soften in another year or so and reveal the finesse and flavor that is now lurking barely beneath the surface. Rating: 89.

Follow Robert on Twitter at @wineguru. To find out more about Robert Whitley and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com.