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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: 707/433-8122 www.intlwine.com
Silverado Hill Winery
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
RobertM.Nicholson
JoshGrace
SallyNicholson,Broker
Telephone: (707) 433-8122
Facsimile: (707) 433-7519
E-Mail : IWA@intlwine.com
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 $350 million that have
included the sale of a number of prestigious estates.
Strategic Planning & General Management: IWA works with clients as strategic and tactical advisors to the
Chief Executive and to the board of directors on the start-up and management of new wine projects, the
structuring of joint-ventures, technical and operational issues, on the development of strategic and financial
plans and on restructuring companies.
Marketing and Distribution: IWA works with companies in the preparation and management of business
plans. IWA has developed and repositioned wine brands for sale in the U.S. and overseas and has distribution
experience in most major wine markets of the world. IWA advises on the development of the U.S. for overseas
wine companies who are new to the market. IWA locates distribution and joint venture partners and negotiates
and structures agreements.
WWW.INTLWINE.COM
International Wine Associates
MERGERS & ACQUISITIONS–GLOBAL WINE ADVISORS–CORPORATE FINANCE–PLANNING–VINEYARD BROKERS
Post Office Box 1330, 625 Healdsburg Avenue
HEALDSBURG, CALIFORNIA 95448, U.S.A.
TELEPHONE : 707/433-8122
ROBERT M. NICHOLSON FACSIMILE : 707/433-7519
JOSH GRACE e-mail: iwa@intlwine.com
SALLY O’NEILL NICHOLSON, BROKER http://www.intlwine.com
Incorporated in 1990 IWA has completed transactions valued at over US$ 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 the
Laird Family Estate. The Laird family is one of the largest private vineyard owners
in the Napa Valley. 2013
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
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 Vineyards is a
leading Napa Valley producer of Merlot. 2012
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
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
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
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122 www.intlwine.com
Selected Transactions & Projects
Moet Hennessy USA (Domaine Chandon), California Sell-Side Advisory
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
Pine Ridge Vineyards, Napa Valley, California
Sell-Side Advisory
Sell-Side Advisory
Sell-Side Advisory
Grupo Codorniu (Artesa Winery, California), Spain Sell-Side Advisory
June, 2012
Sale of a Sonoma County
Vineyard Asset
June, 2012
Sale of an Alexander Valley
Vineyard to Duckhorn
a U.S. subsidiary of
August, 2012
Sold to
Silver Oak Cellars
November, 2012
Sold to
Foley Family Wines
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
January, 2013
Sale of a vineyard
Rutherford, California
January, 2013
Laird Family
Estate
Silverado Hill Winery
Sold to the
April, 2013
Private Investor Group
Sold to a
www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122 www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122 www.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
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
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
2009-2010
Strategic Advisors
Sell-Side AdvisoryHangar One Vodka, California
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
April, 2010
Valuation & Sale of
trademark & distribution
rights to Jose Cuervo
December, 2010
Valuation & Sale of
the company to Banfi
March, 2011
Sold to
Private Investors
Sell-Side AdvisoryPacific Rim Winemakers, Washington
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
Sell-Side AdvisoryLaurel Glen Vineyard, Sonoma, California
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
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
Sell-Side AdvisoryDiageo North America, New York
July, 2011
Sold to
E.&J. Gallo
April, 2010
Sale of Five Rivers to
Silverado Premium Properties
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
Constellation Brands, New York Sell-Side Advisory
May, 2012
Sale of
Blackstone Winery
Kenwood, California
www.intlwine.comP.O. Box 1330,625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122 www.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 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
Estates. 2007
Chateau Potelle, Napa Valley, 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.
Davis Bynum Winery, Healdsburg, California Sell-Side Advisory
Valuation & Sale
of winery & vineyards
to Kendall-Jackson
September, 2007
Valuation & Sale
of 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 Entertainment
Properties Trust. Constellation Brands is a leading international producer and marketer of
beverage 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 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
June, 2008
Valuation & Sale
of certain
California & Pacific
Northwest Wine Brands
& Inventories
has acquired various
wineries and 571 acres
of 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 Long
Meadow Ranch. The Rutherford Sauvignon Blanc vineyard sold at a record price
($170,000/acre). 2008
October, 2008
San Mateo Ranch
Vineyard
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 a
private investor. 2008
January, 2008
Demuth Winery
& Vineyard
Sold to
Private Investors
June, 2008
a US subsidiary of
Entertainment Properties Trust
EPR Properties
www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122 www.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
Financial Advisory
Sell-Side AdvisoryCline Cellars, Sonoma, California
IWA served as exclusive strategic financial advisors for Cline Cellars and initiated
the 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
Campari, Milan, Italy
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
Valuation & Sale of
red truck
December, 2005
2005
Financial Advisors
Sell-Side AdvisoryKoves-Newlan Winery, Napa Valley, California
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
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
Bonny Doon Vineyard, Santa Cruz, California Sell-Side Advisory
August, 2006
Sale of Big House &
Cardinal Zin to
The 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 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
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
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, Healdsburg, California Sell-Side Advisory
Hedin Vineyard
Valuation & Sale
of the vineyard
to Leslie Rudd
April, 2007
December, 2006
has acquired
a US subsidiary of
Entertainment Properties Trust
EPR Properties
www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122 www.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
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 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.
2000-2001
Strategic AdvisoryCabonne Limited, Australia
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
December, 2000
Cabonne Limited
and
Joint Venture
2000-2001
Strategic & Financial
Advisory Services
Sell-Side AdvisoryThe Chalone Wine Group, California
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
Selected Transactions & Projects
Financial AdvisoryWells Fargo Business Credit, California
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
$34 Million Sell-Side Advisory
Wild Horse Winery & Vineyards,
Templeton, California
IWA acted as financial advisors to Wild Horse in a plan to reduce debt. After
completion of a valuation IWA initiated and managed a sale of the business to a
subsidiary of Jim Beam (Fortune Brands). This was the second winery
acquisition 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 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
Financial & Strategic
Wine Industry Advisors
Spring & Summer, 2003
Valuation & Sale
of the business to
Jim Beam
August, 2003
Valuation & Sale
of Hogue Cellars to
Vincor
September, 2001
Valuation & Sale
of Carmenet to
Beringer
August, 2002
Due Diligence for
Debt & Equity
Financing
Domaine Boyar
August, 1998
www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122 www.intlwine.com
Selected Transactions & ProjectsSelected 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, SFW
merged with Distillers Corporation, another leading South African wine and beverage
company, to form Distell. 1998
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
Sonoma-Cutrer Vineyards, California
Strategic Advisor &
Fairness Opinion in
sale to Brown-Forman
March, 1999
1998
Global Strategy
Review
1999-2000
Strategic Advisors
in Argentina
Strategic AdvisoryMasi Agricola, Italy
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
$61.5 Million Strategic AdvisoryEuropean Bank for Reconstruction
& Development (EBRD), London
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
$98 Million Buy-Side AdvisoryJim Beam (Fortune Brands), USA
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
August, 1998
A subsidiary of
acquired
Vina Ventisquero, Chile (Agrosuper) 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
Strategic Advisors
1998-2013
October, 1995
Viña Errazuriz
Sold interest in
to
Robert Mondavi
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122 www.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
Buy-Side Strategic AdvisorySouthcorp Holdings, Australia
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
Strategic AdvisoryHinman Vineyards (owned by Chambers Corp.), Oregon
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
Financial &
Strategic Advisors
1993
Strategic AdvisoryCharles Krug Winery, Napa Valley, California
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
Strategic Advisors
1995
Strategic AdvisoryMildara Blass (Fosters Brewing Group), Australia
IWA served as strategic advisors to Mildara Blass to develop and implement a global
growth 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 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
Strategic AdvisoryParagon Vineyard, California
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 AdvisoryVina 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
Joint Venture
August, 1996
and
Paragon Vineyard Co.
JV in Chile &
winemaking operations
in California
1996-1999
Mildara Blass Ltd.
P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448
Phone: 707/433-8122 www.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 company
in the world. 1992-1993
1993
Sale of the
Oakville Winery
to Pelissa & Hale
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.
Bodegas AGE, Spain (Banco Banesto, Spain)
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
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 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
MERGER & ACQUISITION ADVISORS TO THE GLOBAL WINE INDUSTRY
Total transactions valued at over US $ 1 Billion
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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IWA Company Profile

  • 1. 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: 707/433-8122 www.intlwine.com Silverado Hill Winery
  • 2. 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 RobertM.Nicholson JoshGrace SallyNicholson,Broker Telephone: (707) 433-8122 Facsimile: (707) 433-7519 E-Mail : IWA@intlwine.com 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 $350 million that have included the sale of a number of prestigious estates. Strategic Planning & General Management: IWA works with clients as strategic and tactical advisors to the Chief Executive and to the board of directors on the start-up and management of new wine projects, the structuring of joint-ventures, technical and operational issues, on the development of strategic and financial plans and on restructuring companies. Marketing and Distribution: IWA works with companies in the preparation and management of business plans. IWA has developed and repositioned wine brands for sale in the U.S. and overseas and has distribution experience in most major wine markets of the world. IWA advises on the development of the U.S. for overseas wine companies who are new to the market. IWA locates distribution and joint venture partners and negotiates and structures agreements.
  • 3. WWW.INTLWINE.COM International Wine Associates MERGERS & ACQUISITIONS–GLOBAL WINE ADVISORS–CORPORATE FINANCE–PLANNING–VINEYARD BROKERS Post Office Box 1330, 625 Healdsburg Avenue HEALDSBURG, CALIFORNIA 95448, U.S.A. TELEPHONE : 707/433-8122 ROBERT M. NICHOLSON FACSIMILE : 707/433-7519 JOSH GRACE e-mail: iwa@intlwine.com SALLY O’NEILL NICHOLSON, BROKER http://www.intlwine.com Incorporated in 1990 IWA has completed transactions valued at over US$ 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.
  • 4. 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 the Laird Family Estate. The Laird family is one of the largest private vineyard owners in the Napa Valley. 2013 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 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 Vineyards is a leading Napa Valley producer of Merlot. 2012 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 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 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 P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 www.intlwine.com Selected Transactions & Projects Moet Hennessy USA (Domaine Chandon), California Sell-Side Advisory 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 Pine Ridge Vineyards, Napa Valley, California Sell-Side Advisory Sell-Side Advisory Sell-Side Advisory Grupo Codorniu (Artesa Winery, California), Spain Sell-Side Advisory June, 2012 Sale of a Sonoma County Vineyard Asset June, 2012 Sale of an Alexander Valley Vineyard to Duckhorn a U.S. subsidiary of August, 2012 Sold to Silver Oak Cellars November, 2012 Sold to Foley Family Wines 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 January, 2013 Sale of a vineyard Rutherford, California January, 2013 Laird Family Estate Silverado Hill Winery Sold to the April, 2013 Private Investor Group Sold to a
  • 5. www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 www.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 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 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 2009-2010 Strategic Advisors Sell-Side AdvisoryHangar One Vodka, California 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 April, 2010 Valuation & Sale of trademark & distribution rights to Jose Cuervo December, 2010 Valuation & Sale of the company to Banfi March, 2011 Sold to Private Investors Sell-Side AdvisoryPacific Rim Winemakers, Washington 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 Sell-Side AdvisoryLaurel Glen Vineyard, Sonoma, California 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 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 Sell-Side AdvisoryDiageo North America, New York July, 2011 Sold to E.&J. Gallo April, 2010 Sale of Five Rivers to Silverado Premium Properties 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 Constellation Brands, New York Sell-Side Advisory May, 2012 Sale of Blackstone Winery Kenwood, California
  • 6. www.intlwine.comP.O. Box 1330,625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 www.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 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 Estates. 2007 Chateau Potelle, Napa Valley, 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. Davis Bynum Winery, Healdsburg, California Sell-Side Advisory Valuation & Sale of winery & vineyards to Kendall-Jackson September, 2007 Valuation & Sale of 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 Entertainment Properties Trust. Constellation Brands is a leading international producer and marketer of beverage 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 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 June, 2008 Valuation & Sale of certain California & Pacific Northwest Wine Brands & Inventories has acquired various wineries and 571 acres of 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 Long Meadow Ranch. The Rutherford Sauvignon Blanc vineyard sold at a record price ($170,000/acre). 2008 October, 2008 San Mateo Ranch Vineyard 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 a private investor. 2008 January, 2008 Demuth Winery & Vineyard Sold to Private Investors June, 2008 a US subsidiary of Entertainment Properties Trust EPR Properties
  • 7. www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 www.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 Financial Advisory Sell-Side AdvisoryCline Cellars, Sonoma, California IWA served as exclusive strategic financial advisors for Cline Cellars and initiated the 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 Campari, Milan, Italy 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 Valuation & Sale of red truck December, 2005 2005 Financial Advisors Sell-Side AdvisoryKoves-Newlan Winery, Napa Valley, California 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 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 Bonny Doon Vineyard, Santa Cruz, California Sell-Side Advisory August, 2006 Sale of Big House & Cardinal Zin to The 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 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 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 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, Healdsburg, California Sell-Side Advisory Hedin Vineyard Valuation & Sale of the vineyard to Leslie Rudd April, 2007 December, 2006 has acquired a US subsidiary of Entertainment Properties Trust EPR Properties
  • 8. www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 www.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 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 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. 2000-2001 Strategic AdvisoryCabonne Limited, Australia 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 December, 2000 Cabonne Limited and Joint Venture 2000-2001 Strategic & Financial Advisory Services Sell-Side AdvisoryThe Chalone Wine Group, California 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 Selected Transactions & Projects Financial AdvisoryWells Fargo Business Credit, California 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 $34 Million Sell-Side Advisory Wild Horse Winery & Vineyards, Templeton, California IWA acted as financial advisors to Wild Horse in a plan to reduce debt. After completion of a valuation IWA initiated and managed a sale of the business to a subsidiary of Jim Beam (Fortune Brands). This was the second winery acquisition 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 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 Financial & Strategic Wine Industry Advisors Spring & Summer, 2003 Valuation & Sale of the business to Jim Beam August, 2003 Valuation & Sale of Hogue Cellars to Vincor September, 2001 Valuation & Sale of Carmenet to Beringer August, 2002
  • 9. Due Diligence for Debt & Equity Financing Domaine Boyar August, 1998 www.intlwine.comP.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 www.intlwine.com Selected Transactions & ProjectsSelected 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, SFW merged with Distillers Corporation, another leading South African wine and beverage company, to form Distell. 1998 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 Sonoma-Cutrer Vineyards, California Strategic Advisor & Fairness Opinion in sale to Brown-Forman March, 1999 1998 Global Strategy Review 1999-2000 Strategic Advisors in Argentina Strategic AdvisoryMasi Agricola, Italy 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 $61.5 Million Strategic AdvisoryEuropean Bank for Reconstruction & Development (EBRD), London 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 $98 Million Buy-Side AdvisoryJim Beam (Fortune Brands), USA 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 August, 1998 A subsidiary of acquired Vina Ventisquero, Chile (Agrosuper) 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 Strategic Advisors 1998-2013
  • 10. October, 1995 Viña Errazuriz Sold interest in to Robert Mondavi P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 www.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 Buy-Side Strategic AdvisorySouthcorp Holdings, Australia 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 Strategic AdvisoryHinman Vineyards (owned by Chambers Corp.), Oregon 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 Financial & Strategic Advisors 1993 Strategic AdvisoryCharles Krug Winery, Napa Valley, California 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 Strategic Advisors 1995 Strategic AdvisoryMildara Blass (Fosters Brewing Group), Australia IWA served as strategic advisors to Mildara Blass to develop and implement a global growth 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 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 Strategic AdvisoryParagon Vineyard, California 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 AdvisoryVina 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 Joint Venture August, 1996 and Paragon Vineyard Co. JV in Chile & winemaking operations in California 1996-1999 Mildara Blass Ltd.
  • 11. P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 www.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 company in the world. 1992-1993 1993 Sale of the Oakville Winery to Pelissa & Hale 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. Bodegas AGE, Spain (Banco Banesto, Spain) 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 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 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
  • 12. MERGER & ACQUISITION ADVISORS TO THE GLOBAL WINE INDUSTRY Total transactions valued at over US $ 1 Billion 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
  • 13. 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
  • 14. 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
  • 15. 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