IWA
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$1billion in transactions closed.
P.O. Box 1330,625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122www.intlwine.com
Silverado Hill Winery
RESONANCEVINEYARD
WWW.INTLWINE.COM
INTERNATIONAL WINE ASSOCIATES
MERGERS & ACQUISITIONS–GLOBAL WINE ADVISORS–CORPORATE FINANCE–PLANNING–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 : [email protected] http://www.intlwine.com
Company Profile: incorporated in 1990 and headquartered in the California wine country, INTERNATIONAL WINE ASSOCIATES is the leading provider of mergers and acquisition and corporate development services to the New World wine and liquor industry. IWA provides hands-on corporate finance and transaction strategy 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 multinational companies and the leading banks to improve their business. IWA has initiated, advised on and structured sales of over 20 transactions in the last five years that have included various prominent wine and liquor industry businesses in the U.S. and overseas with a combined value of over $1 billion since 1990. 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 offers a team of experienced business and financial managers and has served companies of all sizes in the industry. Robert Nicholson is the Principal of IWA. He has held senior positions in U.S. and international companies and has over thirty years of corporate management and mergers and acquisition experience. Before establishing IWA, Mr. Nicholson was Vice President of Christian Brothers in California. He also held positions with Seagrams in the U.S.A. and overseas and with Louis Eschenauer in France. Mr. Nicholson is an active industry commentator at industry conferences and has long-standing relationships with company principals and senior management and the banking community. Mergers and Acquisitions, Corporate Finance and Strategic 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 of companies and brands. IWA is retained as exclusive financial advisors, provides valuations and due diligence services, represents principals in the sale and 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 $350 million that have included the sale of a number of prestigious estates. Strategic Planning & General Management: IWA works with clients as strategic and tactical advisors to the Chief Executive and to the board of directors on the start-up and management of new wine projects, the structuring of joint-ventures, technical and operational issues, on the development of strategic and financial plans and on restructuring companies. Marketing and Distribution: IWA works with companies in the preparation and management of business plans. IWA has developed and repositioned wine brands for sale in the U.S. and overseas and has distribution experience in most major wine markets of the world. IWA advises on the development of the U.S. for overseas wine companies who are new to the market. IWA locates distribution and joint venture partners and negotiates and structures agreements.
WWW.INTLWINE.COM
International Wine Associates
MERGERS & ACQUISITIONS–GLOBAL WINE ADVISORS–CORPORATE FINANCE–PLANNING–VINEYARD BROKERS Post Office Box 1330, 625 Healdsburg Avenue
HEALDSBURG, CALIFORNIA 95448, U.S.A. TELEPHONE : 707/433-8122 ROBERT M. NICHOLSON FACSIMILE : 707/433-7519 JOSH GRACE e-mail: [email protected] SALLY O’NEILL NICHOLSON, BROKER http://www.intlwine.com Incorporated in 1990 IWA has completed transactions valued at over US$ 1 billion and is the leader in wine industry mergers and acquisitions, with the sale of over 20 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, selection of and approach to targets, managing due diligence 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 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 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 worked on a number of prominent wine industry transactions with a combined value of over $700 million with the following companies among others, 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 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 $350 million since 2006 including the sale of : 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), 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.
IWA
I W AN T E R N A T I O N A L I N E S S O C I A T E S
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING VINEYARD BROKERS
IWA represented Silverado Hill Winery, located in the Napa Valley, in the sale to theLaird Family Estate. The Laird family is one of the largest private vineyard ownersin the Napa Valley. 2013
IWA represented Mayacamas Vineyards as exclusive advisors in the sale to aprivate investor group. Mayacamas is a historic producer of Napa ValleyCabernet Sauvignon and was a highly rated participant in the famous 1976“Judgment of Paris Tasting”. 2013
IWA represented Resonance Vineyard as exclusive advisors in the sale to LouisJadot. Resonance Vineyard is located in the Yamhill-Carlton AVA and is one ofOregon’s most highly rated Pinot Noir vineyards. Louis Jadot is one ofBurgundy’s leading wine producers. 2013
IWA served as exclusive advisors to Artesa, the U.S. subsidiary of Grupo Codorniu inthe valuation and sale of an Alexander Valley vineyard to Duckhorn Vineyards. GrupoCodorniu is the largest sparkling wine producer in the world. Duckhorn Vineyards is aleading Napa Valley producer of Merlot. 2012
IWA represented Sausal Vineyard and Winery in the sale of the property and businessto Silver Oak Cellars. Sausal is one of the Alexander Valley’s oldest Zinfandel boutiquewineries. Silver Oak Cellars is one of California’s best known producers of CabernetSauvignon. 2012
IWA served as exclusive advisors and represented Lancaster Estate and Roth in thesale to Foley Family Wines. IWA valued the business, negotiated all aspects of thetransaction and managed the due diligence process to the close. Lancaster is aprestigious Bordeaux estate winery in the Alexander Valley. Foley Family Wines is aleading producer of California wines. 2012
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122www.intlwine.com
Selected Transactions & Projects
Sausal Vineyard & Winery, Healdsburg, California Sell-Side Advisory
Lancaster Estate, Healdsburg, California Sell-Side Advisory
Silverado Hill Winery, Napa Valley, California
Mayacamas Vineyards, Napa Valley, California
Resonance Vineyard, Oregon
Pine Ridge Vineyards, Napa Valley, California
Sell-Side Advisory
Sell-Side Advisory
Sell-Side Advisory
Sell-Side Advisory
Grupo Codorniu (Artesa Winery, California), Spain Sell-Side Advisory
June, 2012
Sale of an Alexander ValleyVineyard to Duckhorn
a U.S. subsidiary of
August, 2012
Sold toSilver Oak Cellars
November, 2012
Sold toFoley Family Wines
IWA served as the advisors to Pine Ridge Vineyards and initiated the sale of a vineyardasset in the Rutherford appellation of the Napa Valley. The property was sold to aprivate investor. 2013
January, 2013
Sale of a vineyardRutherford, California
January, 2013
Laird FamilyEstate
Silverado Hill Winery
Sold to the
Sold to a
April, 2013
Private Investor Group
Sold to a
August, 2013
Acquired
RESONANCEVINEYARD
Oregon
www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122www.intlwine.com
IWA
Selected Transactions & Projects
IWA
I W AN T E R N A T I O N A L I N E S S O C I A T E S
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING VINEYARD BROKERS
Brown-Forman, Louisville, Kentucky Sell-Side Advisory
IWA served as the advisors to Brown-Forman and initiated the sale of the Five RiversVineyard in Paso Robles. Five Rivers is a 427 acre estate vineyard that was sold toSilverado Premium Properties. Silverado is one of California’s largest vineyardcompanies. 2010
Sell-Side AdvisoryHangar One Vodka, California
IWA served as the exclusive financial advisors and initiated the sale of the Hangar Onevodka brand and distribution rights to a U.S. subsidiary of Jose Cuervo. Hangar Oneis the leading brand of craft distilled vodka in the USA. Jose Cuervo is the world’slargest producer of tequila. 2010
April, 2010
Valuation & Sale oftrademark & distribution
rights to Jose Cuervo
December, 2010
Valuation & Sale ofthe company to Banfi
March, 2011
Sold toPrivate Investors
Sell-Side AdvisoryPacific Rim Winemakers, Washington
IWA served as exclusive advisors to owner Randall Grahm and initiated the sale ofPacific Rim Winemakers to the Mariani family, owners of Banfi Vintners. Pacific Rimis a 200,000 case Riesling producer. Banfi Vintners is a leading U.S. wine importerand this acquisition was their first investment in the U.S. wine industry. 2010
Sell-Side AdvisoryLaurel Glen Vineyard, Sonoma, California
IWA served as the exclusive advisor and completed a sale of Laurel Glen to privateinvestors. Laurel Glen is one of California’s best known Cabernet estates. 2011
IWA served as exclusive advisors to Diageo and initiated the sale of Edna ValleyVineyard to E.&J. Gallo Winery. IWA represented Diageo and managed the duediligence process to a close of the transaction. Edna Valley is one of the largestproducers of Chardonnay and Pinot Noir in California’s Central Coast with annualsales of 400,000 cases. E. & J. Gallo is the largest privately held winery in theworld. 2011
Sell-Side AdvisoryDiageo North America, New York
July, 2011
Sold to
E.&J. Gallo
April, 2010
Sale of Five Rivers toSilverado Premium Properties
IWA represented Constellation Brands and initiated the sale of the Blackstone Wineryin Kenwood, California to a private wine industry investor. Constellation Brands isa leading international producer and marketer of beverage alcohol. 2012
Constellation Brands, New York Sell-Side Advisory
May, 2012
Sale ofBlackstone Winery
Kenwood, California
IWA represented Domaine Chandon and initiated the sale of a Sonoma County vineyardasset to Sangiacomo Family Vineyards. Domaine Chandon is one of the largestsparkling wine producers in California. Sangiacomo has been farming in SonomaCounty for over 80 years. 2012
Moet Hennessy USA (Domaine Chandon), California Sell-Side Advisory
June, 2012
Sale of a Sonoma CountyVineyard Asset
www.intlwine.comP.O. Box 1330,625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122www.intlwine.com
Selected Transactions & Projects
IWA
I W AN T E R N A T I O N A L I N E S S O C I A T E S
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING VINEYARD BROKERS
IWA served as the exclusive strategic advisor to Davis Bynum and initiated the saleof their brand to Klein Family Vintners in August, 2007. IWA also served as advisor andinitiated 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.
Davis Bynum Winery, Healdsburg, California Sell-Side Advisory Valuation & Saleof the Davis Bynum
brand, winery& vineyard
August, 2007 March, 2008
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 EntertainmentProperties Trust. Constellation Brands is a leading international producer and marketer ofbeverage alcohol. 2008
Constellation Brands, New York $99 Million Sell-Side Advisory
Constellation Brands, New York $110 Million Sell-Side Advisory
IWA served as advisors to and represented Constellation in their sale of certain Californiaand Pacific Northwest wine brands and inventory to Ascentia Wine Estates. The assetsincluded 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. Thistransaction resulted in the creation of a new wine company, Ascentia Wine Estates, withannual sales of over 1 million cases. Constellation Brands is a leading internationalproducer and marketer of beverage alcohol. 2008
June, 2008
Valuation & Saleof certain
California & PacificNorthwest Wine Brands
& Inventories
has acquired variouswineries and 571 acresof vineyard assets from
Sell-Side AdvisoryYalumba, Australia
IWA acted as exclusive financial advisor to in initiating andYalumba, Australia,completing the sale of their San Mateo Ranch vineyard in the Napa Valley to LongMeadow Ranch. The Rutherford Sauvignon Blanc vineyard sold at a record price($170,000/acre). 2008
October, 2008
San Mateo RanchVineyard
Yalumba
Long Meadow Ranch
Sold
to
Sell-Side AdvisoryDemuth Winery & Vineyard, Mendocino County
IWA acted as exclusive advisor to Demuth in the sale of the winery and vineyard to aprivate investor. 2008
January, 2008
Demuth Winery& Vineyard
Sold toPrivate Investors
June, 2008
a US subsidiary of
Entertainment Properties Trust
EPR Properties
McManis Family Vineyards, California Strategic Advisory
IWA was originally engaged to evaluate the business. This included a strategic reviewand financial analysis of the winery and vineyard business. A number of IWArecommendations were implemented. 2009 - 2010
2009-2010
Strategic Advisors
www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122www.intlwine.com
Selected Transactions & Projects
IWA
I W AN T E R N A T I O N A L I N E S S O C I A T E S
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING VINEYARD BROKERS
Sell-Side AdvisoryCline Cellars, Sonoma, California
IWA served as exclusive strategic financial advisors for Cline Cellars and initiatedthe sale of their brand to 585 Wine Partners. Cline is a leading producerRed Truck
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
Sell-Side AdvisoryKoves-Newlan Winery, Napa Valley, California
IWA acted as exclusive financial advisor to Koves-Newlan in initiating and completingthe sale of the winery and vineyard to a private buyer. Koves-Newlan is a producerof Napa Valley wines. 2006
Valuation & Sale of thewinery & vineyard
June, 2006
IWA served as exclusive and strategic financial advisor to Bonny Doon and provided avaluation of the entire company prior to initiating and managing the sale of the Big Houseand Cardinal Zin brands to The Wine Group. Bonny Doon is owned by Randall Grahamand is one of California’s best known wine companies. The Wine Group is the thirdlargest wine company in the USA. 2006
Bonny Doon Vineyard, Santa Cruz, California Sell-Side Advisory
August, 2006
Sale of Big House &Cardinal Zin toThe Wine Group
Sell-Side Advisory
Sell-Side Advisory
Havens Wine Cellars, Napa Valley, California
Havens Wine Cellars, Napa Valley, California
IWA initiated this transaction and served as strategic advisors and broker to Havens inthe valuation and sale of the winery and vineyard to a U.S. subsidiary of EntertainmentProperties Trust, EPR Properties. Havens is a leading producer of Napa Valley Syrahand Merlot. 2006
IWA acted as exclusive advisor to Havens in the valuation and sale of the brand toBillington Imports. Havens is a leading producer of Napa Valley Syrah and Merlot.Billington is a wine importer and marketer. 2006
Valuation & Saleof the brand
December, 2006
IWA acted as exclusive advisor in the valuation and sale to Rudd Estate. Hedin is awell known Russian River vineyard. This property will be used as a Sonoma base forRudd Estate. 2007
Hedin Vineyard, Healdsburg, California Sell-Side AdvisoryHedin Vineyard
Valuation & Saleof the vineyardto Leslie Rudd
April, 2007
December, 2006
has acquired
a US subsidiary of
Entertainment Properties Trust
EPR Properties
Selected Transactions & Projects
IWA acted as exclusive strategic and financial advisor to Chateau Potelle and initiatedthe sale of the winery and vineyard to Jackson Family Farms. Respected Mount Veederestate. Jackson Family Farms is a subsidiary of privately held Kendall-Jackson VineyardEstates. 2007
Chateau Potelle, Napa Valley, California Sell-Side Advisory
Valuation & Saleof winery & vineyards
to Kendall-Jackson
September, 2007
www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122www.intlwine.com
Selected Transactions & Projects
IWA
I W AN T E R N A T I O N A L I N E S S O C I A T E S
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING VINEYARD BROKERS
Strategic AdvisoryCabonne Limited, Australia
IWA served as advisor to Cabonne in the location and negotiation of a joint ventureagreement with Trinchero (Sutter Home) to create a jointly owned brand ofAustralian wines. Trinchero is one of California’s largest wine company. 2000
December, 2000
Cabonne Limited
and
Joint Venture
Sell-Side AdvisoryThe Chalone Wine Group, California
IWA served as exclusive strategic advisor to Chalone and initiated and completeda sale of the Carmenet brand to Beringer. Chalone was one of the only publiclytraded wine companies in the USA. Beringer is a subsidiary of Fosters. 2002
Selected Transactions & Projects
Financial AdvisoryWells Fargo Business Credit, California
IWA served as the exclusive, strategic wine industry advisor to Wells Fargo during thebankruptcy of DeLoach Vineyards. IWA evaluated the DeLoach bankruptcy work-outplans, prepared and implemented alternative work-out scenarios, valued the businesscourt testimony and wine industry benchmark data. Spring & Summer, 2003
$34 Million Sell-Side AdvisoryWild Horse Winery & Vineyards,Templeton, California
IWA acted as financial advisors to Wild Horse in a plan to reduce debt. Aftercompletion of a valuation IWA initiated and managed a sale of the business to asubsidiary of Jim Beam (Fortune Brands). This was the second wineryacquisition by Jim Beam that IWA had advised on. 2003
$37 Million Sell-Side AdvisoryThe Hogue Cellars, Washington
IWA served as exclusive financial advisors to Hogue and valued the company andthen initiated and managed a sale of the company to Vincor of Canada. Hogue isthe third largest wine company in Washington. Vincor is the largest wine companyin Canada and this transaction was their second US winery acquisition. 2001
Financial & Strategic
Wine Industry Advisors
Spring & Summer, 2003
Valuation & Saleof the business to
Jim Beam
August, 2003
Valuation & Saleof Hogue Cellars to
VincorSeptember, 2001
Valuation & Saleof Carmenet to
BeringerAugust, 2002
Financial AdvisoryCampari, Milan, Italy
IWA acted as exclusive financial advisors to Campari to evaluate a $100 million liquorbrand acquisition. IWA initiated the discussions on behalf of Campari with theprincipals of the selling company, developed extensive financial valuation models forthe acquisition and provided due diligence services to Campari. 2005 2005
Financial Advisors
Buy-Side Advisory & Financial AdvisoryThe Chalone Wine Group, California
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 Chaloneacquired the prestigious Hewitt vineyard in Rutherford. IWA also served asadvisors to Chalone and their Washington partners in Canoe Ridge Vineyards toprovide a valuation of the business, to assist Chalone in the buy-out of theirlocal partners. Canoe Ridge is a leading ultra-premium Washington wine producer.2000-2001
www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122www.intlwine.com
Selected Transactions & Projects
Selected Transactions & Projects
IWA
I W AN T E R N A T I O N A L I N E S S O C I A T E S
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING VINEYARD BROKERS
Strategic AdvisoryStellenbosch Farmers Winery, South Africa
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, SFWmerged with Distillers Corporation, another leading South African wine and beveragecompany, to form Distell. 1998
Sell-Side Advisory & Fairness Opinion
IWA acted as advisor to Sonoma-Cutrer in obtaining an additional competitive bid forthe company and provided a fairness opinion on the lead offer from Brown-Forman.Sonoma-Cutrer is a well-known ultra-premium estate grown California Chardonnayproducer and was sold to Brown-Forman. 1998-1999
Sonoma-Cutrer Vineyards, CaliforniaStrategic Advisor &Fairness Opinion in
sale to Brown-Forman
March, 1999
1998
Global StrategyReview
1999-2000
Strategic Advisorsin Argentina
Strategic AdvisoryMasi Agricola, Italy
IWA served as advisors to Masi in the development of their strategic and financial planfor a new project in Argentina. Masi is a leading producer of ultra-premium Italianwines and was developing a new vineyard and winery project in Argentina. 1999-2001
$98 Million Buy-Side AdvisoryJim Beam (Fortune Brands), USA
IWA acted as financial advisor to Jim Beam and provided strategic management anddue diligence services in their acquisition of Geyser Peak Winery in California. Followingthe acquisition IWA continued to work with Beam on related issues. This was the firstwine acquisition made by Jim Beam. 1998-2001 August, 1998
A subsidiary of
acquired
Vina Ventisquero, Chile (Agrosuper) Strategic Advisory
IWA is retained to structure joint ventures and establish global marketing anddistribution for Vina Ventisquero. Agreements were signed with PLB, a leading UKdistribution company (annual sales have developed to over 500,000 cases) and ClickWine Group in the USA (the Root:1 brand was developed and annual sales havegrown to over 150,000 cases). Agrosuper is Chile’s largest food group with annualsales of over $2 billion. 1998-2013
Strategic Advisors
1998-2013
2000-2001
Strategic & FinancialAdvisory Services
$61.5 Million Strategic AdvisoryEuropean Bank for Reconstruction& Development (EBRD), London
IWA served as strategic advisor to EBRD to provide due diligence services and anassessment and review of the business plans submitted to the Bank by Domaine Boyarto provide $61.5 million of debt & equity financing with ING Barings. Domaine Boyar isBulgaria’s largest wine company. EBRD was established in 1991 following the collapseof communism to aid in the transition to market economies. 1998
October, 1995
Viña ErrazurizSold interest in
to
Robert Mondavi
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122www.intlwine.com
Selected Transactions & Projects
IWA
I W AN T E R N A T I O N A L I N E S S O C I A T E S
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING VINEYARD BROKERS
Strategic AdvisoryHinman Vineyards (owned by Chambers Corp.), Oregon
IWA served as advisors to Hinman in the preparation of a five year strategic plan withthe management team. Hinman is an ultra-premium Oregon wine business. 1995
Strategic Advisors
1995
Strategic AdvisoryCharles Krug Winery, Napa Valley, California
IWA served as the strategic advisor to Charles Krug in re-staging the CK Mondavibrand. A five year strategic plan was developed for a brand re-launch (incl. productre-formulation, supply, re-positioning & re-packaging, marketing and sales, etc.). TheCK Mondavi brand was re-launched in September, 1995. Charles Krug announcedthat 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 isowned by the Peter Mondavi family. 1995
Strategic AdvisoryMildara Blass (Fosters Brewing Group), Australia
IWA served as strategic advisors to Mildara Blass to develop and implement a globalgrowth strategy to produce wines in other countries. As Project Manager,New World
IWA developed projects in the USA and Chile: a joint venture in Chile with Vina SantaCarolina 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
Strategic AdvisoryParagon Vineyard, California
IWA acted as advisors to Paragon and initiated and negotiated a joint-venture withSouthcorp Wines of Australia. A joint venture was established and IWA worked in ageneral management role to provide direction on financial, production, brand developmentand other marketing issues. Southcorp was Australia’s largest wine company. 1996-2000
Strategic AdvisoryVina Errazuriz, Chile
IWA acted as advisor to Errazuriz in structuring their joint-venture with Robert Mondavion the Caliterra business. Errazuriz is a well-known ultra-premium Chilean winebusiness and built a successful brand of Chilean wine with Robert Mondavi. 1995
Joint Venture
August, 1996
and
Paragon Vineyard Co.
JV in Chile &winemaking operations
in California1996-1999
Mildara Blass Ltd.
Strategic Advisors
1995
Due Diligence forDebt & Equity
FinancingDomaine Boyar
August, 1998
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122www.intlwine.com
Selected Transactions & Projects
IWA
I W AN T E R N A T I O N A L I N E S S O C I A T E S
MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING VINEYARD BROKERS
Sell-Side Strategic AdvisoryHeublein (a division of Diageo), California
IWA represented Heublein and initiated the sale of the Oakville Winery to Pelissa& Hale. Heublein is a subsidiary of Diageo, the largest beverage alcohol companyin the world. 1992-1993
1993
Sale of theOakville Winery
to Pelissa & Hale
Strategic Advisory
IWA served as exclusive strategic advisor to Bodegas AGE on the development andimplementation of international marketing strategies. Bodegas AGE is the secondlargest producer of Rioja wines and the IWA engagement started immediately followingthe company's acquisition by Banco Banesto from Guiness (Diageo) and lasted forthree years. 1991-1993.
Bodegas AGE, Spain (Banco Banesto, Spain)
Financial & Strategic Advisory
IWA served as financial and strategic advisor to Vina San Pedro and provided a companyvaluation and initiated discussions with international strategic investors. IWA continuedto serve as strategy advisor in product development, international initiatives and in theengagement of an international winemaking team. Vina San Pedro is Chile's third largestwinery and was the Chilean wine subsidiary of Banco Banesto, Spain's largest bank.1990-1993
Vina San Pedro, Chile (Banco Banesto, Spain)
1990-1993
Valuation &Strategic Advisors
1991-1993
Development &Implementation of
marketing strategies
Selected Transactions & Projects
Sell-Side Strategic AdvisoryHeublein (a division of Diageo), California
IWA served as advisors and represented Heublein in the sale of the historicGreystone Building in Napa Valley to The Culinary Institute of America. Heubleinis a subsidiary of Diageo, the largest beverage alcohol company in the world.1992-1993
Sale of TheGreystone Building to
1993
Buy-Side Strategic AdvisorySouthcorp Holdings, Australia
IWA served as the strategic financial advisor to Southcorp and provided due diligence andfinancial analysis of the 25 leading USA winery targets for Southcorp’s strategy to expandinto the US wine industry with a major acquisition. Southcorp is the owner of leadingAustralian wine producers: Penfolds, Lindemans, Wynns and others. 1993
Financial &Strategic Advisors
1993
MERGER & ACQUISITION ADVISORS TO THE GLOBAL WINE INDUSTRY Total transactions valued at over US $ 1 Billion
has acquired
IWA served as exclusive advisors and represented Resonance Vineyard
in this transaction
April 2013
has sold to a Private Investor Group
IWA served as exclusive advisors and represented Mayacamas Vineyards
in this transaction
April 2013
Silverado Hill Winery
has sold to
IWA initiated this transaction and represented Silverado Hill Winery
January 2013
has sold a Vineyard In Rutherford, California
to a
Private Investor
IWA initiated this transaction and served as exclusive advisors to Pine Ridge Vineyards
January 2013
has sold to
IWA served as exclusive advisors and represented Lancaster
November 2012
has acquired
IWA represented Sausal and served as exclusive
advisors in this transaction
August 2012
a U.S. subsidiary of
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
has sold a Vineyard in Sonoma Coast, California to
IWA represented Moet Hennessy (Domaine Chandon) in this transaction
June 2012
has sold Blackstone Winery
Kenwood, California to a
Private Wine Industry Investor
IWA initiated this transaction and represented Constellation
May 2012
has sold their 50% ownership in
to
IWA served as exclusive advisors to Diageo & initiated
this transaction.
July 2011
has been acquired by
A Group of Private Investors
IWA served as exclusive financial advisors & real estate broker to Laurel Glen
March 2011
The Mariani Family Banfi Vintners
has acquired
IWA initiated this transaction & served as advisors to Pacific Rim
December 2010
Sold the trademark and marketing rights to
Proximo Spirits, Inc.
A subsidiary of
IWA served as exclusive financial advisors to Hangar One & represented
Craft Distillers & St. George Spirits
April 2010
Sale of Five Rivers Vineyard, Paso Robles to
Silverado Premium Properties
IWA served as advisors to Brown-Forman & initiated the sale of a
427 acre vineyard to SPP
April 2010
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
a subsidiary of
Entertainment Properties Trust EPR Properties
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 Anderson Valley
has been sold to
A Private Investor
IWA initiated this transaction & served as strategic advisors to Demuth
January, 2008
Klein Family Vintners
has acquired
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 August 2007
Jackson Family Farms
has acquired
CHATEAU POTELLE WINERY a Napa Valley Winery
IWA initiated this transaction & served as strategic financial advisors to Chateau Potelle
September 2007
Leslie Rudd
has acquired
Hedin Vineyard Healdsburg, California
IWA initiated this transaction & served
as strategic advisors to Hedin
April 2007
a subsidiary of Entertainment Properties Trust
EPR Properties
has acquired
a Napa Valley Winery & Vineyard
IWA initiated this transaction & served as strategic financial advisors & broker to Havens
December 2006
Billington Imports
has acquired
a Napa Valley Brand
from
Mobius Partnership
IWA initiated this transaction & served as strategic financial advisors & broker to Mobius
December 2006
The Wine Group
has acquired
Big House & Cardinal Zin California Wine Brands
from
IWA initiated this transaction & served as strategic financial advisors to Bonny Doon
August 2006
Napa Valley, California
has been acquired by
A Private Investor
IWA initiated this transaction, acted as strategic financial advisors
to Koves-Newlan June 2006
A Private Investor
has acquired the
Hillview Vineyard Property
Napa Valley, California
IWA served as broker & financial advisors to the seller
November 2006
585 Wine Partners
has acquired
red truck
a California Wine Brand from
IWA initiated this transaction & served as strategic financial advisors to Cline Cellars
December 2005
a subsidiary of
has acquired
Templeton, California
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
has sold
The Vintage Lane Winery To
Justi Creek LLC
IWA initiated this transaction & served as exclusive financial advisors to Chalone
December 2002
has sold the Carmenet brand to
Beringer Blass Wine Estates
IWA initiated this transaction & served as exclusive financial advisors to Chalone
September 2002
a subsidiary of
Vincor International Inc. has acquired
Prosser, Washington
IWA initiated this transaction & served as exclusive financial advisors to Hogue
September 2001
Beckstoffer Vineyards
has acquired the Talmadge Vineyard in Mendocino County, California from
IWA initiated this transaction & served as exclusive financial advisors to Parducci
January 2001
And
Cabonne Limited
have established a global joint-venture to produce and market Australian wines.
IWA represented Cabonne
December 2000
has acquired
Rutherford, California
IWA acted as strategic advisor, represented and provided due diligence services to Chalone in this
purchase of this 60 acre vineyard
February 2000
has been acquired by
IWA served as advisor & provided a Fairness Opinion to Sonoma-Cutrer
March, 1999
Mildara Blass Ltd.
has acquired
Napa Valley Vineyard development property from
Juliana Vineyards
St. Helena, California
IWA acted as advisor to Mildara Blass in the sale of a 100 acre vineyard
September 1998
a subsidiary of
has acquired
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
has provided debt and equity financing to
Sofia, Bulgaria
IWA provided general management, financial & technical due diligence services to EBRD
August 1998
Mildara Blass Ltd.
has established winemaking operations in California
IWA initiated this transaction & acted as financial and strategic advisor to Mildara Blass Ltd.
June 1997
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
and
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
Robert Mondavi Corporation
has acquired an interest in
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
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
Pelissa & Hale
IWA & partners initiated this transaction & represented Heublein Inc.
June 1993
has sold
The Greystone Building St. Helena, California
to
IWA & partners initiated this transaction & represented Heublein Inc.
January 1993
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