Silverado Hill Winery - International Wine Associates

IWA is the leading provider of mergers & acquisitions services to the New
World wine & liquor industry. Over the last 20 years IWA has either
represented or sold the companies & brands below for a combined value of
over US$ 1 Billion in the transactions closed.
Silverado Hill Winery
R ESONANCE
VINEYARD
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122
www.intlwine.com
International Wine Associates
CALIFORNIA*OREGON*WASHINGTON
Mergers & Acquisitions–Corporate Finance–Vineyard Brokers
Post Office Box 1330, 625 Healdsburg Avenue
Healdsburg, California 95448, U.S.A.
Robert M. Nicholson
Josh Grace
Sally Nicholson, Broker
Telephone: (707) 433-8122
Facsimile: (707) 433-7519
E-Mail: IWA @intlwine.com
Company Profile: incorporated in 1990 and headquartered in the California wine country and with over
25 years of experience, INTERNATIONAL WINE ASSOCIATES is the leader in winery and liquor
industry mergers and acquisition. With companies in California, Oregon and Washington IWA provides
hands-on corporate finance and transaction advisory services to the leaders of wine and liquor industry
clients on a worldwide basis. Over the years IWA has been retained by many family owned wineries,
most of the major multinational companies and leading banks to improve their business. IWA has
initiated, advised on and structured the sale of over 50 transactions that have included various prominent
wine and liquor industry businesses in the U.S. and overseas with a combined value of over $1 billion.
IWA is committed to providing strategic solutions and delivering results on complicated transactions for
clients. Our integrated approach combines advisory expertise with in-depth industry knowledge and
independently recognized excellence in research.
Industry Experience: IWA works with wine and liquor industry clients in the Americas, Australasia,
South Africa and Europe. IWA has a team of experienced business and financial managers and has
served companies of all sizes. The principals of IWA are active industry commentators at conferences
and they have long-standing relationships with company principals and senior management and the
banking community throughout the industry.
Mergers and Acquisitions, Corporate Finance and Transaction Advisory Services: IWA has
initiated and structured numerous transactions in the industry with a total value of over $ 1 billion that
have included the sale or acquisition of companies, brands and winery / vineyard properties. IWA is
retained as exclusive financial advisors, provides valuations and due diligence services, represents
principals in the sale or acquisition of companies and brands and completes analysis of investments for
clients. IWA has a network throughout the world in the wine and liquor industry and financial community.
Real Estate Services: in addition to buying and selling companies in the industry, in the last few years
IWA has completed numerous vineyard and winery real estate transactions valued at over $400 million
that have included the sale of a number of prestigious estates, vineyards and winery assets.
Strategic Planning & General Management: IWA works with clients as strategic and tactical advisors
to the Chief Executive and to the board of directors on the start-up and management of new wine
projects, the structuring of joint-ventures, technical and operational issues, on the development of
strategic and financial plans and on restructuring companies.
Marketing and Distribution: IWA works with companies in the preparation and management of
business plans. IWA has developed and repositioned wine brands for sale in the U.S. and overseas and
has distribution experience in most major wine markets of the world. IWA advises on the development
of the U.S. for overseas wine companies who are new to the market. IWA locates distribution and joint
venture partners and negotiates and structures agreements.
WWW.INTLWINE.COM
International Wine Associates
CALIFORNIA*OREGON*WASHINGTON
Mergers & Acquisitions–Corporate Finance–Vineyard Brokers
Post Office Box 1330, 625 Healdsburg Avenue
Healdsburg, California 95448, U.S.A.
Robert M. Nicholson
Josh Grace
Sally Nicholson, Broker
Telephone: (707) 433-8122
Facsimile: (707) 433-7519
E-Mail: IWA @intlwine.com
Incorporated in 1990 and with companies in California, Oregon and Washington, IWA has completed transactions valued at over US$
1 billion and is the leader in wine industry mergers and acquisitions, with the sale of over 25 businesses, wineries and vineyards closed
since 2008. IWA provides a team of experienced wine business professionals who work with clients on all aspects of the transaction
process from valuations, preparation of offering documents and due diligence materials, selection of and approach to targets, managing
the deal process and representing clients in negotiations through to the close of transactions.
Robert Nicholson is a Principal of IWA and a leader in wine industry mergers & acquisitions and has completed over US$ 1 billion in
transactions.
Before establishing IWA in 1990 Robert was Vice President of Christian Brothers in California and held positions with Seagrams in
New York and with Louis Eschenauer in Bordeaux (when the company owned Chateau Rauzan Segla, Chateau Smith Haut Lafitte and
Chateau Olivier, among other leading Bordeaux estates). At IWA Robert has completed numerous transactions and has worked with
many family owned wineries, most of the major multinational companies and a number of banks, including Washington’s Sagemoor
Vineyards, Oregon’s The Four Graces and Resonance Vineyard, Alderbrook Winery, Mayacamas Vineyards, Lancaster Estate, Laurel
Glen, Sonoma-Cutrer, Edna Valley Vineyard, Bonny Doon, DIAGEO, Constellation, Grupo Codorniu, Moet-Hennessy, Brown-Forman,
Jim Beam, Gruppo Campari, Heublein, Chalone, Fosters, Southcorp, Mildara Blass, Masi, Wells Fargo, European Bank, Banco
Banesto, Yalumba, Davis Bynum, Buena Vista, Cline Cellars, Havens, Gary Farrell, Geyser Peak Winery, Chateau Potelle, Charles
Krug, Hogue Cellars, Pacific Rim Winemakers, Columbia, Covey Run, Ste. Chapelle, Errazuriz, Wild Horse, Sausal, Hangar One
Vodka, and many others.
Robert was educated in England at Millfield and studied oenology at the University of Bordeaux under Professor Emile Peynaud. Robert
is an active industry commentator at U.S. and international conferences and speaks fluent French.
Josh Grace is a Managing Director at IWA and has over fifteen years of financial management, valuation, accounting, mergers and
acquisition and corporate advisory experience, with a specialization in the wine and liquor industry.
Before joining IWA in 2002, Josh was a Financial Manager at Robert Mondavi where he worked on California vineyard acquisitions
and on financial management of the company’s flagship Napa Valley winery. At IWA Josh has managed a number of prominent wine
industry transactions with a combined value of over $700 million with the following companies among others, Washington’s Sagemoor
Vineyards, Oregon’s The Four Graces and Resonance Vineyard, Alderbrook Winery, Mayacamas Vineyards, DIAGEO, Constellation,
Brown-Forman, Campari, Fosters, Lancaster Estate, Sausal, Bonny Doon, Wild Horse, Havens, Davis Bynum, Chateau Potelle, Cline
Cellars, and Wells Fargo that have included the sale of various businesses including Edna Valley Vineyard, Pacific Rim, Hangar One
Vodka, Big House, Red Truck and many others.
Josh graduated from California Polytechnic State University, San Luis Obispo, California with a BSc degree in Business Administration
with a concentration in Accounting.
Sally Nicholson is a Principal of IWA and a Licensed Real Estate Broker in California and Oregon specializing in the sale and
acquisition of winery and vineyard properties. Under Sally’s Real Estate License, IWA has completed wine industry real estate
transactions valued at over $400 million since 2005 including the sale of : Washington’s Sagemoor Vineyards, Oregon’s The Four
Graces and Resonance Vineyard, Alderbrook Winery, Mayacamas Vineyards, Lancaster Estate, Sausal Vineyard, Codorniu’s Ridgeline
Vineyard, Brown-Forman’s Paso Robles vineyard, a Monterey vineyard, Constellation’s winery and vineyard assets (Geyser Peak,
Buena Vista, Gary Farrell, Covey Run in Washington and Ste. Chapelle in Idaho) that included 570 + acres of vineyard, Chateau Potelle
Mount Veeder winery and vineyards, Havens Napa Valley winery, Silverado Hill Winery, Koves-Newlan Oak Knoll winery and vineyard,
San Mateo Ranch vineyard in Rutherford, Davis Bynum winery and vineyard assets in Russian River, Demuth winery and vineyards in
Mendocino and others. Sally has broad professional experience in Australasia, Europe and the United States with a comprehensive
knowledge of winery and vineyard business valuations and transactions.
Sally has twenty five years of international experience in brand development and marketing of luxury goods and held a number of
senior management positions with direct report responsibility to Calvin Klein and Ralph Lauren and was a Design Consultant in the
development of the Dockers Division at Levi Strauss. Sally graduated with a BSc degree in Design from University of California, Davis
and attended Harvard Business School Executive Education.
WWW.INTLWINE.COM
INTERNATIONAL WINE ASSOCIATES
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS
CORPORATE FINANCE PLANNING
IWA
VINEYARD BROKERS
Selected Transactions & Projects
Duckhorn Wine Company, Napa Valley, California
Sell-Side Advisory
IWA served as advisors to and represented Duckhorn in the sale of their Howell
Mountain Candlestick Vineyard to Robert Craig Winery. Duckhorn is one of Napa
Valley's best known wine companies. Robert Craig produces award-winning wines from
vineyards in Napa Valley mountain AVAs. 2015
Entertainment Properties Trust (NYSE: EPR)
Sold to a
Pasco, Washington
Sold to
Allan Brothers
April 2014
Sell-Side Advisory
IWA was retained as exclusive advisors to The Four Graces and represented the
company in the sale to Foley Family Wines. The Four Graces is one of Oregon’s
leading wineries. Foley Family Wines is a well known producer of wines in
California, Washington and New Zealand. 2014
Terlato Wines, Chicago, Illinois
Acquired
Gehrts Vineyard
November 2014
Sell-Side Advisory
IWA served as financial advisors to and represented Sagemoor Vineyards in the sale
to Allan Brothers. Sagemoor is a highly respected and diversified farming operation
with over 1,300 acres of wine grapes, cherries and apples. Privately held Allan Brothers
is one of Washington’s largest agricultural companies. 2014
The Four Graces, Dundee, Oregon
Acquired by
Gamble Family
December 2014
Sell-Side Advisory
In IWA's second transaction in Oregon with Burgundy's Louis Jadot, IWA represented
Gehrts Vineyard in the sale to Jadot. Gehrts is located in Dundee and is one of the most
highly rated vineyards in the Dundee AVA. Louis Jadot is one of Burgundy's leading wine
producers. 2014
Sagemoor Vineyards, Pasco, Washington
Sold to a
Ascentia Vineyard
Acquired by
Foley Family Wines
December 2014
Sell-Side Advisory
IWA represented the LaTour family in the sale of their Mount Veeder vineyard to the
Gamble family. The Gamble's are well known as one of the Napa Valley's largest
vineyard owners. 2014
Gehrts Vineyard, Dundee, Oregon
January 2015
Sell-Side Advisory
IWA represented EPR in the sale of their Alexander Valley vineyard property to Foley
Family Wines. EPR is a publicly traded REIT. Foley is one of the USA's largest privately
held wine businesses. 2014
LaTour Vineyard, Napa Valley, California
Sold to a
Sold Candlestick Vineyard to
Sold to
a
Dundee,
Oregon
Sold to
Foley Family Wines
March 2014
Sell-Side Advisory
IWA served as advisors to Terlato Wines and initiated the sale of Alderbrook Winery,
Sonoma County, (excluding the brand) to a private investor. Terlato Wines is a
leading importer and marketer of luxury wines in the United States. 2013
Sold
Saletoofa
Alderbrook Winery
Healdsburg, California
December 2013
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122
www.intlwine.com
INTERNATIONAL WINE ASSOCIATES
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS
CORPORATE FINANCE PLANNING
IWA
VINEYARD BROKERS
Selected Transactions & Projects
Resonance Vineyard, Carlton, Oregon
Sell-Side Advisory
IWA represented Resonance Vineyard as exclusive advisors in the sale to Louis
Jadot. Resonance Vineyard is located in the Yamhill-Carlton AVA and is one of
Oregon’s most highly rated Pinot Noir vineyards. Louis Jadot is one of
Burgundy’s leading wine producers. 2013
Mayacamas Vineyards, Napa Valley, California
R ESONANCE
VINEYARD
Oregon
August 2013
Sell-Side Advisory
IWA represented Mayacamas Vineyards as exclusive advisors in the sale to a
private investor group. Mayacamas is a historic producer of Napa Valley
Cabernet Sauvignon and was a highly rated participant in the famous 1976
“Judgment of Paris Tasting”. 2013
Silverado Hill Winery, Napa Valley, California
Sold to a
Acquired
Sell-Side Advisory
Sold to a
Private Investor Group
April 2013
Silverado Hill Winery
Sold to the
IWA represented Silverado Hill Winery, located in the Napa Valley, in the sale to the
Laird Family Estate. Silverado Hill Winery was owned by CalPERS. The Laird
family is one of the largest private vineyard owners in the Napa Valley. 2013
Pine Ridge Vineyards, Napa Valley, California
January 2013
Sold to
Foley Family Wines
November 2012
Sell-Side Advisory
IWA represented Sausal Vineyard and Winery in the sale of the property and business
to Silver Oak Cellars. Sausal is one of the Alexander Valley’s oldest Zinfandel boutique
wineries. Silver Oak Cellars is one of California’s best known producers of Cabernet
Sauvignon. 2012
Grupo Codorniu (Artesa Winery, California), Spain
Sale of a vineyard
Rutherford, California
Sell-Side Advisory
IWA served as exclusive advisors and represented Lancaster Estate and Roth in the
sale to Foley Family Wines. IWA valued the business, negotiated all aspects of the
transaction and managed the due diligence process to the close. Lancaster is a
prestigious Bordeaux estate winery in the Alexander Valley. Foley Family Wines is a
leading producer of California wines. 2012
Sausal Vineyard & Winery, Healdsburg, California
January 2013
Sell-Side Advisory
IWA served as the advisors to Pine Ridge Vineyards and initiated the sale of a vineyard
asset in the Rutherford appellation of the Napa Valley. The property was sold to a
private investor. 2013
Lancaster Estate, Healdsburg, California
Laird Family
Estate
Sell-Side Advisory
IWA served as exclusive advisors to Artesa, the U.S. subsidiary of Grupo Codorniu in
the valuation and sale of an Alexander Valley vineyard to Duckhorn Vineyards. Grupo
Codorniu is the largest sparkling wine producer in the world. Duckhorn V ineyards is a
leading Napa Valley producer of Merlot. 2012
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122
Sold to
Silver Oak Cellars
August 2012
a U.S. subsidiary of
Sale of an Alexander Valley
Vineyard to Duckhorn
June 2012
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INTERNATIONAL WINE ASSOCIATES
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS
CORPORATE FINANCE PLANNING
IWA
IWA
VINEYARD BROKERS
Selected Transactions & Projects
Moet Hennessy USA (Domaine Chandon), California
Sell-Side Advisory
IWA represented Domaine Chandon and initiated the sale of a Sonoma County vineyard
asset to Sangiacomo Family Vineyards. Domaine Chandon is one of the largest
sparkling wine producers in California. Sangiacomo has been farming in Sonoma
County for over 80 years. 2012
Constellation Brands, New York
Sell-Side Advisory
IWA served as the exclusive advisor and completed a sale of Laurel Glen to private
investors. Laurel Glen is one of California’s best known Cabernet estates. 2011
Pacific Rim Winemakers, Washington
Sold to
E.&J. Gallo
July 2011
Sold to
Private Investors
March 2011
Valuation & Sale of
the company to Banfi
December 2010
Sell-Side Advisory
IWA served as the exclusive financial advisors and initiated the sale of the Hangar One
vodka brand and distribution rights to a U.S. subsidiary of Jose Cuervo. Hangar One
is the leading brand of craft distilled vodka in the USA. Jose Cuervo is the world’s
largest producer of tequila. 2010
Brown-Forman, Louisville, Kentucky
May 2012
Sell-Side Advisory
IWA served as exclusive advisors to owner Randall Grahm and initiated the sale of
Pacific Rim Winemakers to the Mariani family, owners of Banfi Vintners. Pacific Rim
is a 200,000 case Riesling producer. Banfi Vintners is a leading U.S. wine importer
and this acquisition was their first investment in the U.S. wine industry. 2010
Hangar One Vodka, California
Sale of
Blackstone Winery
Kenwood, California
Sell-Side Advisory
IWA served as exclusive advisors to Diageo and initiated the sale of Edna Valley
Vineyard to E.&J. Gallo Winery. IWA represented Diageo and managed the due
diligence process to a close of the transaction. Edna Valley is one of the largest
producers of Chardonnay and Pinot Noir in California’s Central Coast with annual
sales of 400,000 cases. E. & J. Gallo is the largest privately held winery in the
world. 2011
Laurel Glen Vineyard, Sonoma, California
June 2012
Sell-Side Advisory
IWA represented Constellation Brands and initiated the sale of the Blackstone Winery
in Kenwood, California to a private wine industry investor. Constellation Brands is
a leading international producer and marketer of beverage alcohol. 2012
Diageo North America, New York
Sale of a Sonoma County
Vineyard Asset
Valuation & Sale of
trademark & distribution
rights to Jose Cuervo
April 2010
Sell-Side Advisory
IWA served as the advisors to Brown-Forman and initiated the sale of the Five Rivers
Vineyard in Paso Robles. Five Rivers is a 427 acre estate vineyard that was sold to
Silverado Premium Properties. Silverado is one of California’s largest vineyard
companies. 2010
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
P.O. Box707/433-8122
1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone:
Phone: 707/433-8122
Sale of Five Rivers to
Silverado Premium Properties
April 2010
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INTERNATIONAL WINE ASSOCIATES
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS
CORPORATE FINANCE PLANNING
IWA
VINEYARD BROKERS
Selected Transactions & Projects
McManis Family Vineyards, California
Strategic Advisory
IWA was originally engaged to evaluate the business. This included a strategic review
and financial analysis of the winery and vineyard business. A number of IWA
recommendations were implemented. 2009 - 2010
Strategic Advisors
2009-2010
Yalumba, Australia
Sell-Side Advisory
IWA acted as exclusive financial advisor to Yalumba, Australia, in initiating and
completing the sale of their San Mateo Ranch vineyard in the Napa Valley to Long
Meadow Ranch. The Rutherford Sauvignon Blanc vineyard sold at a record price
($170,000/acre). 2008
Yalumba
Sold
San Mateo Ranch
Vineyard
to
Long Meadow Ranch
October 2008
Constellation Brands, New York
$99 Million Sell-Side Advisory
IWA served as advisors to and represented Constellation in their sale of certain California
and Pacific Northwest wine brands and inventory to Ascentia Wine Estates. The assets
included the sale of Geyser Peak, Buena Vista, Gary Farrell, Atlas Peak, XYZin in California;
Columbia Winery and Covey Run in Washington and Ste. Chapelle in Idaho. This
transaction resulted in the creation of a new wine company, Ascentia Wine Estates, with
annual sales of over 1 million cases. Constellation Brands is a leading international
producer and marketer of beverage alcohol. 2008
Constellation Brands, New York
$110 Million Sell-Side Advisory
Valuation & Sale
of certain
California & Pacific
Northwest Wine Brands
& Inventories
June 2008
a US subsidiary of
Entertainment Properties Trust
EPR Properties
IWA served as advisors to and represented Constellation in their sale of various wineries
(Geyser Peak, Buena Vista, Gary Farrell in California and Columbia Winery in Washington)
and 571 acres of vineyard assets to EPR Properties which is a subsidiary of Entertainment
Properties Trust. Constellation Brands is a leading international producer and marketer of
beverage alcohol. 2008
Demuth Winery & Vineyard, Mendocino County
Sell-Side Advisory
IWA acted as exclusive advisor to Demuth in the sale of the winery and vineyard to a
private investor. 2008
has acquired various
wineries and 571 acres
of vineyard assets from
June 2008
Demuth Winery
& Vineyard
Sold to
Private Investors
January 2008
Davis Bynum Winery, Healdsburg, California
Sell-Side Advisory
IWA served as the exclusive strategic advisor to Davis Bynum and initiated the sale
of their brand to Klein Family Vintners in August, 2007. IWA also served as advisor and
initiated the sale of the winery and vineyards to a private investor in March, 2008.
Davis Bynum is a leading Russian River producer of Pinot Noir.
Valuation & Sale
of the Davis Bynum
brand, winery
& vineyard
August, 2007 March, 2008
Chateau Potelle, Napa Valley, California
Sell-Side Advisory
IWA acted as exclusive strategic and financial advisor to Chateau Potelle and initiated
the sale of the winery and vineyard to Jackson Family Farms. Respected Mount Veeder
estate. Jackson Family Farms is a subsidiary of privately held Kendall-Jackson Vineyard
Selected Transactions & Projects
Estates. 2007
P.O. Box 1330,625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122
Valuation & Sale
of winery & vineyards
to Kendall-Jackson
September 2007
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INTERNATIONAL WINE ASSOCIATES
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS
CORPORATE FINANCE PLANNING
IWA
VINEYARD BROKERS
Selected Transactions & Projects
Hedin Vineyard, Healdsburg, California
Sell-Side Advisory
IWA acted as exclusive advisor in the valuation and sale to Rudd Estate. Hedin is a
well known Russian River vineyard. This property will be used as a Sonoma base for
Rudd Estate. 2007
Hedin Vineyard
Valuation & Sale
of the vineyard
to Leslie Rudd
April 2007
Havens Wine Cellars, Napa Valley, California
Sell-Side Advisory
IWA initiated this transaction and served as strategic advisors and broker to Havens in
the valuation and sale of the winery and vineyard to a U.S. subsidiary of Entertainment
Properties Trust, EPR Properties. Havens is a leading producer of Napa Valley Syrah
and Merlot. 2006
a US subsidiary of
Entertainment Properties Trust
EPR Properties
has acquired
December 2006
Havens Wine Cellars, Napa Valley, California
Sell-Side Advisory
IWA acted as exclusive advisor to Havens in the valuation and sale of the brand to
Billington Imports. Havens is a leading producer of Napa Valley Syrah and Merlot.
Billington is a wine importer and marketer. 2006
Valuation & Sale
of the brand
December 2006
Bonny Doon Vineyard, Santa Cruz, California
Sell-Side Advisory
IWA served as exclusive and strategic financial advisor to Bonny Doon and provided a
valuation of the entire company prior to initiating and managing the sale of the Big House
and Cardinal Zin brands to The Wine Group. Bonny Doon is owned by Randall Graham
and is one of California’s best known wine companies. The Wine Group is the third
largest wine company in the USA. 2006
Koves-Newlan Winery, Napa Valley, California
Sale of Big House &
Cardinal Zin to
The Wine Group
August 2006
Sell-Side Advisory
IWA acted as exclusive financial advisor to Koves-Newlan in initiating and completing
the sale of the winery and vineyard to a private buyer. Koves-Newlan is a producer
of Napa Valley wines. 2006
Valuation & Sale of the
winery & vineyard
June 2006
Cline Cellars, Sonoma, California
Sell-Side Advisory
IWA served as exclusive strategic financial advisors for Cline Cellars and initiated
the sale of their Red Truck brand to 585 Wine Partners. Cline is a leading producer
of Sonoma County wines. This transaction resulted in the creation of 585 Partners,
a new US wine marketing company. 2005
Valuation & Sale of
red truck
December 2005
Campari, Milan, Italy
Financial Advisory
IWA acted as exclusive financial advisors to Campari to evaluate a $100 million liquor
brand acquisition. IWA initiated the discussions on behalf of Campari with the
principals of the selling company, developed extensive financial valuation models for
the acquisition and provided due diligence services to Campari. 2005
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122
Financial Advisors
2005
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INTERNATIONAL WINE ASSOCIATES
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS
CORPORATE FINANCE PLANNING
IWA
VINEYARD BROKERS
Selected Transactions & Projects
Wild Horse Winery & Vineyards,
Templeton, California
IWA acted
completion
subsidiary
acquisition
$34 Million Sell-Side Advisory
as financial advisors to Wild Horse in a plan to reduce debt. After
of a valuation IWA initiated and managed a sale of the business to a
of Jim Beam (Fortune Brands).
This was the second winery
by Jim Beam that IWA had advised on. 2003
Valuation & Sale
of the business to
Jim Beam
August 2003
Selected Transactions & Projects
Wells Fargo Business Credit, California
Financial Advisory
IWA served as the exclusive, strategic wine industry advisor to Wells Fargo during the
bankruptcy of DeLoach Vineyards. IWA evaluated the DeLoach bankruptcy work-out
plans, prepared and implemented alternative work-out scenarios, valued the business
court testimony and wine industry benchmark data. Spring & Summer, 2003
The Chalone Wine Group, California
Valuation & Sale
of Carmenet to
Beringer
August 2002
$37 Million Sell-Side Advisory
IWA served as exclusive financial advisors to Hogue and valued the company and
then initiated and managed a sale of the company to Vincor of Canada. Hogue is
the third largest wine company in Washington. Vincor is the largest wine company
in Canada and this transaction was their second US winery acquisition. 2001
Cabonne Limited, Australia
Spring & Summer 2003
Sell-Side Advisory
IWA served as exclusive strategic advisor to Chalone and initiated and completed
a sale of the Carmenet brand to Beringer. Chalone was one of the only publicly
traded wine companies in the USA. Beringer is a subsidiary of Fosters. 2002
The Hogue Cellars, Washington
Financial & Strategic
Wine Industry Advisors
Valuation & Sale
of Hogue Cellars to
Vincor
September 2001
Strategic Advisory
IWA served as advisor to Cabonne in the location and negotiation of a joint venture
agreement with Trinchero (Sutter Home) to create a jointly owned brand of
Australian wines. Trinchero is one of California’s largest wine company. 2000
and
Cabonne Limited
Joint Venture
December 2000
The Chalone Wine Group, California
Buy-Side Advisory & Financial Advisory
IWA acted as exclusive advisors to Chalone on a number of projects in 2000 &
2001. IWA was retained to locate a Napa Valley winery or vineyard and Chalone
acquired the prestigious Hewitt vineyard in Rutherford. IWA also served as
advisors to Chalone and their Washington partners in Canoe Ridge Vineyards to
provide a valuation of the business, to assist Chalone in the buy-out of their
local partners. Canoe Ridge is a leading ultra-premium Washington wine producer.
Selected Transactions & Projects
2000-2001
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122
Strategic & Financial
Advisory Services
2000-2001
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INTERNATIONAL WINE ASSOCIATES
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS
CORPORATE FINANCE PLANNING
IWA
VINEYARD BROKERS
Selected Transactions & Projects
Sonoma-Cutrer Vineyards, California
Sell-Side Advisory & Fairness Opinion
IWA acted as advisor to Sonoma-Cutrer in obtaining an additional competitive bid for
the company and provided a fairness opinion on the lead offer from Brown-Forman.
Sonoma-Cutrer is a well-known ultra-premium estate grown California Chardonnay
producer and was sold to Brown-Forman. 1998-1999
Masi Agricola, Italy
1999-2000
Global Strategy
Review
1998
Strategic Advisory
IWA is retained to structure joint ventures and establish global marketing and
distribution for Vina Ventisquero. Agreements were signed with PLB, a leading UK
distribution company (annual sales have developed to over 500,000 cases) and Click
Wine Group in the USA (the Root:1 brand was developed and annual sales have
grown to over 150,000 cases). Agrosuper is Chile’s largest food group with annual
sales of over $2 billion. 1998-2013
Jim Beam (Fortune Brands), USA
Strategic Advisors
in Argentina
Strategic Advisory
IWA acted as advisor to SFW to conduct a global strategy review for the company.
SFW is the largest producer of wines and spirits in South Africa and in 2001, SFW
merged with Distillers Corporation, another leading South African wine and beverage
company, to form Distell. 1998
Vina Ventisquero, Chile (Agrosuper)
March 1999
Strategic Advisory
IWA served as advisors to Masi in the development of their strategic and financial plan
for a new project in Argentina. Masi is a leading producer of ultra-premium Italian
wines and was developing a new vineyard and winery project in Argentina. 1999-2001
Stellenbosch Farmers Winery, South Africa
Strategic Advisor &
Fairness Opinion in
sale to Brown-Forman
$98 Million Buy-Side Advisory
IWA acted as financial advisor to Jim Beam and provided strategic management and
due diligence services in their acquisition of Geyser Peak Winery in California. Following
the acquisition IWA continued to work with Beam on related issues. This was the first
wine acquisition made by Jim Beam. 1998-2001
Strategic Advisors
1998-2013
A subsidiary of
acquired
August 1998
European Bank for Reconstruction
& Development (EBRD), London
$61.5 Million Strategic Advisory
IWA served as strategic advisor to EBRD to provide due diligence services and an
assessment and review of the business plans submitted to the Bank by Domaine Boyar
to provide $61.5 million of debt & equity financing with ING Barings. Domaine Boyar is
Bulgaria’s largest wine company. EBRD was established in 1991 following the collapse
of communism to aid in the transition to market economies. 1998
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122
Due Diligence for
Debt & Equity
Financing
Domaine Boyar
August 1998
www.intlwine.com
www.intlwine.com
INTERNATIONAL WINE ASSOCIATES
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS
CORPORATE FINANCE PLANNING
IWA
VINEYARD BROKERS
Selected Transactions & Projects
Mildara Blass (Fosters Brewing Group), Australia
Strategic Advisory
IWA served as strategic advisors to Mildara Blass to develop and implement a global
growth strategy to produce wines in other New World countries. As Project Manager,
IWA developed projects in the USA and Chile: a joint venture in Chile with Vina Santa
Carolina and the start-up of winemaking operations in California. Mildara Blass,
Australia’s fourth largest wine company, was acquired by Fosters in 1995. 1996-1999
Paragon Vineyard, California
Strategic Advisory
IWA acted as advisors to Paragon and initiated and negotiated a joint-venture with
Southcorp Wines of Australia. A joint venture was established and IWA worked in a
general management role to provide direction on financial, production, brand development
and other marketing issues. Southcorp was Australia’s largest wine company. 1996-2000
Strategic Advisory
Vina Errazuriz, Chile
IWA acted as advisor to Errazuriz in structuring their joint-venture with Robert Mondavi
on the Caliterra business. Errazuriz is a well-known ultra-premium Chilean wine
business and built a successful brand of Chilean wine with Robert Mondavi. 1995
Mildara Blass Ltd.
JV in Chile &
winemaking operations
in California
1996-1999
and
Paragon Vineyard Co.
Joint Venture
August 1996
Viña Errazuriz
Sold interest in
to
Robert Mondavi
October 1995
Charles Krug Winery, Napa Valley, California
Strategic Advisory
IWA served as the strategic advisor to Charles Krug in re-staging the CK Mondavi
brand. A five year strategic plan was developed for a brand re-launch (incl. product
re-formulation, supply, re-positioning & re-packaging, marketing and sales, etc.). The
CK Mondavi brand was re-launched in September, 1995. Charles Krug announced
that sales of CK Mondavi had grown to 490,000 cases in 1996, an increase of over 225%
from the previous year. Charles Krug is one of Napa Valley’s oldest wineries and is
owned by the Peter Mondavi family. 1995
Hinman Vineyards (owned by Chambers Corp.), Oregon
Strategic Advisors
1995
Strategic Advisory
IWA served as advisors to Hinman in the preparation of a five year strategic plan with
the management team. Hinman is an ultra-premium Oregon wine business. 1995
Strategic Advisors
1995
Southcorp Holdings, Australia
Buy-Side Strategic Advisory
IWA served as the strategic financial advisor to Southcorp and provided due diligence and
financial analysis of the 25 leading USA winery targets for Southcorp’s strategy to expand
into the US wine industry with a major acquisition. Southcorp is the owner of leading
Australian wine producers: Penfolds, Lindemans, Wynns and others. 1993
Financial &
Strategic Advisors
1993
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122
www.intlwine.com
INTERNATIONAL WINE ASSOCIATES
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS
CORPORATE FINANCE PLANNING
IWA
VINEYARD BROKERS
Selected Transactions & Projects
Heublein (a division of Diageo), California
Sell-Side Strategic Advisory
IWA represented Heublein and initiated the sale of the Oakville Winery to Pelissa
& Hale. Heublein is a subsidiary of Diageo, the largest beverage alcohol company
in the world. 1992-1993
Selected Transactions & Projects
Heublein (a division of Diageo), California
Sale of the
Oakville Winery
to Pelissa & Hale
1993
Sell-Side Strategic Advisory
IWA served as advisors and represented Heublein in the sale of the historic
Greystone Building in Napa Valley to The Culinary Institute of America. Heublein
is a subsidiary of Diageo, the largest beverage alcohol company in the world.
1992-1993
Sale of The
Greystone Building to
1993
Bodegas AGE, Spain (Banco Banesto, Spain)
Strategic Advisory
IWA served as exclusive strategic advisor to Bodegas AGE on the development and
implementation of international marketing strategies. Bodegas AGE is the second
largest producer of Rioja wines and the IWA engagement started immediately following
the company's acquisition by Banco Banesto from Guiness (Diageo) and lasted for
three years. 1991-1993.
Vina San Pedro, Chile (Banco Banesto, Spain)
Development &
Implementation of
marketing strategies
1991-1993
Financial & Strategic Advisory
IWA served as financial and strategic advisor to Vina San Pedro and provided a company
valuation and initiated discussions with international strategic investors. IWA continued
to serve as strategy advisor in product development, international initiatives and in the
engagement of an international winemaking team. Vina San Pedro is Chile's third largest
winery and was the Chilean wine subsidiary of Banco Banesto, Spain's largest bank.
1990-1993
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122
Valuation &
Strategic Advisors
1990-1993
www.intlwine.com
MERGER & ACQUISITION ADVISORS TO THE GLOBAL WINE INDUSTRY
Total transactions completed valued at over US $ 1 Billion
has sold Ascentia Vineyard to
has acquired
has sold Candlestick Vineyard to
IWA represented and served as exclusive advisors to
Duckhorn Wine Company in this transaction
IWA represented and served as exclusive advisors to
EPR Properties in this transaction
December 2104
December 2104
January 2015
IWA represented and served as exclusive advisors
to the LaTour family in this transaction
has sold to
has acquired
has sold to
Gehrts Vineyard
Dundee, Oregon.
IWA represented and served as exclusive advisors to
Gehrts Vineyard in this transaction
IWA served as financial advisors and represented
Sagemoor Vineyards in this transaction
April 2014
November 2014
IWA represented and served as exclusive advisors
to The Four Graces in this transaction
March 2014
has sold
Alderbrook Winery
Healdsburg, California
has acquired
to
A Private Investor
has sold to a
IWA served as exclusive advisors and
represented Terlato Wines in this transaction
December 2013
Private Investor Group
IWA served as exclusive advisors
and represented Resonance Vineyard
in this transaction
August 2013
IWA served as exclusive advisors
and represented Mayacamas Vineyards
in this transaction
April 2013
Silverado Hill Winery
has sold to
has sold to
has sold a Vineyard
In Rutherford, California
to a
Private Investor
IWA initiated this transaction and represented
Silverado Hill Winery
January 2013
IWA initiated this transaction and served as exclusive
advisors to Pine Ridge Vineyards
January 2013
IWA served as exclusive advisors and
represented Lancaster
November 2012
a U.S. subsidiary of
has sold a Vineyard in Sonoma Coast, California
to
has acquired
IWA represented Sausal and served as exclusive
advisors in this transaction
August 2012
has sold a Vineyard in Alexander Valley, California
to
IWA initiated this transaction and served as exclusive
advisors to Grupo Codorniu (Artesa Winery)
June 2012
IWA represented Moet Hennessy
(Domaine Chandon) in this transaction
June 2012
has sold
has sold their 50% ownership in
Blackstone Winery
Kenwood, California
to a
has been acquired by
Private Wine Industry Investor
to
IWA initiated this transaction and represented
Constellation
IWA served as exclusive advisors to Diageo & initiated
this transaction.
May 2012
A Group of Private Investors
IWA served as exclusive financial advisors & real
estate broker to Laurel Glen
July 2011
March 2011
The Mariani Family
Banfi Vintners
has acquired
Sold the trademark and marketing rights
to
Proximo Spirits, Inc.
A subsidiary of
Sale of Five Rivers Vineyard, Paso Robles
to
Silverado Premium Properties
IWA initiated this transaction & served as advisors to
Pacific Rim
December 2010
IWA served as exclusive
financial advisors to Hangar One & represented
Craft Distillers & St. George Spirits
April 2010
IWA served as advisors to Brown-Forman &
initiated the sale of a
427 acre vineyard to SPP
April 2010
a subsidiary of
Entertainment Properties Trust
EPR Properties
has sold
San Mateo Ranch Vineyard
Rutherford, California
to
Longmeadow Ranch
IWA initiated this transaction & served
as strategic advisors to Yalumba in the sale to
Long Meadow Ranch
October 2008
Sold Certain California & Pacific
Northwest Wine Brands & Inventory
(Geyser Peak, Buena Vista, Gary Farrell,
Atlas Peak, XYZin, Columbia
Winery, Covey Run & Ste. Chapelle)
to
Ascentia Wine Estates
IWA served as advisors & represented Constellation
in a $99 million transaction and managed the
Due diligence process
June 2008
has acquired various wineries (Geyser Peak, Buena
Vista, Gary Farrell & Columbia) and
571 acres of vineyard assets
from
IWA served as advisors & represented Constellation
in a $110 million transaction and managed the
due diligence process
June 2008
Demuth Winery &
Vineyard
Klein Family Vintners
has acquired
Anderson Valley
Jackson Family Farms
has been sold to
A Private Investor
IWA initiated this transaction & served
as strategic advisors to Demuth
A Russian River Wine Brand
Healdsburg, California
IWA initiated & served as strategic advisors to Davis
Bynum in this transaction & sold the winery & vineyard
assets to a private investor in a separate transaction
March 2008
January, 2008
Leslie Rudd
has acquired
August 2007
a subsidiary of
Entertainment Properties Trust
EPR Properties
has acquired
CHATEAU POTELLE
WINERY
a Napa Valley Winery
IWA initiated this transaction & served as strategic
financial advisors to Chateau Potelle
September 2007
Billington Imports
has acquired
has acquired
Hedin Vineyard
Healdsburg, California
IWA initiated this transaction & served
as strategic advisors
to Hedin
a Napa Valley Brand
a Napa Valley Winery & Vineyard
IWA initiated this transaction & served as strategic
financial advisors & broker to Havens
December 2006
April 2007
from
Mobius Partnership
IWA initiated this transaction & served as strategic
financial advisors & broker to Mobius
December 2006
The Wine Group
A Private Investor
has acquired
Big House & Cardinal Zin
has acquired the
California Wine Brands
from
Hillview Vineyard Property
Napa Valley, California
has been acquired by
A Private Investor
IWA initiated this transaction, acted
as strategic financial advisors
to Koves-Newlan
IWA initiated this transaction & served as strategic
financial advisors to Bonny Doon
August 2006
June 2006
585 Wine Partners
Napa Valley, California
IWA served as broker & financial
advisors to the seller
November 2006
a subsidiary of
has acquired
red truck
has acquired
a California Wine Brand from
Templeton, California
IWA initiated this transaction & served as strategic
financial advisors to Cline Cellars
December 2005
IWA initiated this transaction & acted as strategic
financial advisors to Wild Horse in
this $34 million sale
August 2003
IWA served as financial & strategic wine industry
advisors to Wells Fargo Bank in
the DeLoach Vineyard bankruptcy
Spring & Summer 2003
a subsidiary of
Vincor International Inc.
has acquired
Beckstoffer Vineyards
has acquired the Talmadge Vineyard in
Mendocino County, California from
has sold the Carmenet brand to
Beringer Blass Wine Estates
IWA initiated this transaction & served as
exclusive financial advisors to Chalone
Prosser, Washington
IWA initiated this transaction & served as
exclusive financial advisors to Hogue
IWA initiated this transaction & served as
exclusive financial advisors to Parducci
September 2001
September 2002
January 2001
Mildara Blass Ltd.
has acquired
has been acquired by
has acquired
Napa Valley Vineyard development
property from
Juliana Vineyards
St. Helena, California
Rutherford, California
IWA acted as strategic advisor, represented and
provided due diligence services to Chalone in this
purchase of this 60 acre vineyard
IWA served as advisor & provided
a Fairness Opinion to Sonoma-Cutrer
September 1998
March, 1999
February 2000
IWA acted as advisor to Mildara Blass in the sale
of a 100 acre vineyard
a subsidiary of
has provided debt and equity financing to
has acquired
Mildara Blass Ltd.
Sofia, Bulgaria
has established winemaking operations
in California
IWA provided general management, financial &
technical due diligence services to EBRD
IWA initiated this transaction & acted as financial and
strategic advisor to Mildara Blass Ltd.
Geyserville, California
IWA acted as strategic advisor and provided
due diligence services to Jim Beam in a $98 million
transaction of winery & vineyard assets
August 1998
June 1997
August 1998
Robert Mondavi Corporation
has acquired an interest in
and
Mildara Blass Ltd.
and
Vina Santa Carolina S.A.
have established a joint-venture to produce
and market Chilean wines.
IWA initiated this transaction & acted as financial and
strategic advisor to Mildara Blass Ltd.
June 1997
Paragon Vineyard Company
have established a joint-venture company
to produce and market California wines.
IWA represented Paragon and acted as strategic
advisor to the joint-venture
August 1996
a Chilean Wine Brand
from
Viña Errazuriz
and they have established a joint-venture to produce
and market Chilean wines.
IWA acted as strategic advisor to Viña Errazuriz
October 1995
has sold
IWA served as
Financial
&
Strategic Advisors
to Southcorp
IWA provided due diligence and financial analysis of
the 25 leading USA winery targets for acquisition by
Southcorp
1993
has sold
The Oakville Winery
Oakville, California
to
The Greystone Building
St. Helena, California
to
Pelissa & Hale
IWA & partners initiated this transaction & represented
Heublein Inc.
June 1993
IWA & partners initiated this transaction &
represented Heublein Inc.
January 1993