Alcohol acetyltransferase that catalyzes the synthesis of ethyl acetate from ethanol and acetyl-CoA. Can also function as a thioesterase by hydrolyzing acetyl-CoA in the absence of ethanol, as well as esterase hydrolyzing ethyl acetate. acetyl-CoA + ethanol = CoA + ethyl acetate acetyl-CoA + H2O = acetate + CoA + H(+) ethyl acetate + H2O = acetate + ethanol + H(+) By ethanol. Thioesterase and esterase reactions are highly repressed in the presence of high ethanol concentrations. In contrast to S.cerevisiae, W.anomalous is a better ethyl acetate producing yeast. Ethyl acetate is an important industrial compound, used as a chemical solvent applied in the synthesis of biodiesels, paints, adhesives, herbicides and resins. It is also popular because it is relatively non-toxic and fully biodegradable. However, the sustainability of the ethyl acetate industry is severly hampered by the current energy intensive production processes that are based exclusively on petrochemical resources. Ethanol acetyltransferase may be a target for an efficient biobased alternative production process. Belongs to the AB hydrolase superfamily.