2006 Bonny Doon Vineyard - Santa Cruz, California
Sale of Big House & Cardinal Zin Brands
 IWA was engaged by Bonny Doon as their exclusive and strategic financial advisor in the sale of the Big House and Cardinal Zin brands. IWA provided the following services to Bonny Doon:
- Valued the Big House and Cardinal Zin brand and inventory for a sale
- Developed a target list of buyers for the Big House and Cardinal Zin brands
- Developed an Information Memorandum to present the opportunity to interested buyers
- Screened the targets and made blind approaches
- Represented Bonny Doon in negotiations with interested targets
- Supervised and managed the due diligence process on behalf of Boon Doon through to a close of the sale of the Big House and Cardinal Zin brands to The Wine Group
 A valuation of the Big House and Cardinal Zin brands was completed by IWA. An Information Memorandum was developed by IWA to present the brands to interested buyers. IWA represented Bonny Doon in negotiations with interested targets through to a successful close of the sale of the Big House and Cardinal Zin brands to The Wine Group in July 2006.
2006 Havens Wine Cellars – Napa Valley, California
Sale of Havens Napa Valley Winery and Brand
 IWA was engaged by the Napa Valley’s Havens Wine Cellars as their exclusive and strategic financial advisor in the sale of the Havens Cellars Winery and brand. IWA provided the following services to Havens:
-
Valued the Havens brand and facility for sale
-
Developed a target list of buyers
-
Developed an Information Memorandum to present the opportunity to interested buyers
-
Screened the targets and made blind approaches
-
Represented Havens in negotiations with interested targets
-
Supervised and managed the due diligence on behalf of Havens to a close of the sale of the brand and facility to Billington Imports
A valuation of the Havens brand & inventory was completed by IWA. An Information Memorandum was developed to present the brand and winery to interested buyers. IWA acted as exclusive broker and represented Havens in negotiations through to a successful close of the sale of the Havens Cellars Winery and brand to Billington Imports in December 2006.
2006 Koves-Newlan Winery - Napa Valley, California
IWA was engaged to sell Koves-Newlan Vineyards and Winery, located on Hwy 29 in the Napa Valley, south of Yountville. The 17-acre property consists of 4 parcels with a winery facility, tasting room and 10 acres of vineyards. IWA provided the seller with the following services in this transaction:
- Acted as the exclusive Land Broker and financial advisor to the seller
- Develop a list of buyers and all presentation materials (i.e. an Information Memorandum, and all other documentation)
- Managed the Due Diligence process
- Represented the seller in the sale of the property
IWA represented the seller in negotiations with interested targets and managed the due diligence process through to a successful close of the sale to L’Attitude Wines LLC, a private buyer in June 2006.
2005 Hillview Vineyard Property - Napa Valley, California
IWA was engaged in the sale of the Hillview Vineyard property to provide the following services:
- Act as the Land Broker
- Develop a targets list of buyers
- Represent the Seller in the sale of the Vineyard
An Information Memorandum was created by IWA to present the assets in the Hillview Vineyard acquisition to interested buyers. IWA represented the seller in negotiations with interested targets and managed the due diligence process through a successful close of the sale to a private buyer in November 2005.
2005 Cline Cellars - Sonoma, California
Sale of Red Truck Brand
IWA was engaged by Cline Cellars as their exclusive strategic financial advisor in the sale of the California wine brand Red Truck. IWA provided the following services:
- Valued the Red Truck brand and inventory
- Developed a target list of buyers for the Red Truck brand
- Screened the targets and made blind approaches on behalf of Cline Cellars
- Represented Cline Cellars in negotiations with interested targets
- Supervised the due diligence process on behalf of Cline Cellars through to a close of the acquisition of Red Truck brand
A Valuation of the Red Truck brand was completed by IWA for Cline. Then an Information Memorandum was developed by IWA to present the Red Truck brand opportunity to interested buyers. IWA represented Cline in negotiations with interested targets through to a successful close of the sale of Red Truck to Axiom Wine Company in December 2005.
2003
Wild Horse Winery & Vineyards – Templeton, California
In
January 2003, IWA was engaged by Wild Horse Winery and Vineyards
as their exclusive financial advisor to provide the following services:
- Provide
an overview of possible equity
alternatives
- Complete
a valuation of the Company
(if the family decided to sell the winery and vineyard)
- To
represent the Volk family in a sale of the Company
After
the above analysis was completed by IWA, the Volk Family decided
to sell the Company. IWA wrote an Information Memorandum to present
the Wild Horse acquisition opportunity to interested buyers. IWA
developed a list of target buyers and approached the targets on
behalf of Wild Horse. IWA represented Wild Horse in negotiations
with interested targets and managed the due diligence process through
to a successful close of the sale to a subsidiary of Fortune Brands
in August 2003.
2003
Wells Fargo Business Credit, Inc
 
IWA served as the exclusive, strategic wine industry
advisor to Wells Fargo Business Credit, Inc. for 6 months during
a major 2003 wine-industry bankruptcy (De Loach Vineyards). IWA
provided multiple financial services to Wells Fargo including the
following:
Evaluation
of bankruptcy work-out plans
- Sales
projections
- Inventory
levels (bulk wine and cased goods)
- SG&A
costs
- Proposed
asset values and potential sales
- Overall
strategy
Preparation
& implementation of alternative work-out scenarios:
- Cost
reductions
- Alternative
marketing and distribution options
- Inventory
reductions (bulk wine and cased goods)
- Improving
cash flow
- Increasing
sales volume
- Suggestions
to improve the Contraction Plan
IWA
also provided:
- Court
testimony
- Wine
industry benchmark data
2001-2002
The Chalone Wine Group - Carmenet
In
September 2001 Chalone engaged IWA as its exclusive strategic advisor
to structure a sale of the inventory and brand Carmenet. During
this process IWA provided the following services to Chalone :
- Valued
the Carmenet brand and inventory
-
Developed a target list of buyers for Chalone
- Screened
the targets and made blind approaches on behalf of Chalone
- Represented
Chalone in negotiations with interested targets
- Supervised
the due diligence process on behalf of Chalone through to a close
of the transaction and sale
In
August 2002, Beringer Blass Wine Estates acquired the Carmenet brand
and inventory from Chalone.
1998-1999 - The Chalone
Wine Group, California
Chalone
engaged IWA as the exclusive advisor in
1998 to locate a prestigious Napa Valley winery or
vineyard property. During this process IWA provided the following
services to Chalone :
-
Developed a target list that satisfied the Chalone investment
criteria
-
Screened
the targets and made blind approaches on behalf of Chalone
-
Supervised
the due diligence process on behalf of Chalone
In February 2000 Chalone acquired the
prestigious Hewitt property in Rutherford, California for US$
15 million. IWA provided due diligence services and acted as Chalone's strategic advisor.
1998-2001
- Jim Beam Brands Worldwide (Fortune Brands), USA
In January 1998 IWA was
engaged by Jim Beam Brands Worldwide to provide strategy management
and due diligence services on the acquisition of Geyser Peak Winery
in California. IWA was involved in the acquisition at all levels
from the opening of negotiations with the seller. IWA provided
Beam and Fortune management with local wine industry expertise
in areas such as :
-
Analysis of
current financial and market strength
-
Evaluation and inspection
of production facilities and vineyards
-
Analysis of current and potential
operating results after the closing
-
Writing and negotiation of
grape purchase agreements and farm management contracts
-
Property appraisals
Since the acquisition of Geyser Peak Winery by Beam in August
1998 for US $97 million, IWA has provided Fortune and Beam with
a Ten Year Strategic Wine Business Overview and continues to provide
strategy management services on issues relating to the development
of their U.S. and international wine business.
1996-2000
- Paragon Vineyard (Niven family) & Independence Wine Company (the
Southcorp & Paragon California joint-venture), California - USA
IWA was hired by Paragon Vineyard to locate
and negotiate an agreement with a partner for a new California wine
project and to provide project management in the development of
a joint-venture company. After developing pro-forma plans and presenting
the project to various California targets, IWA recommended that
Paragon consider looking for an overseas partner. After making the
initial approach to Southcorp Wines of Australia IWA negotiated
the venture with Paragon. A joint-venture agreement was signed and
established in August 1996. IWA was then hired by the new venture
to work in a general management role to provide direction on financial,
production, brand development and other marketing issues. In 1996
the first wines were made in California and the Seven Peaks brand
was released in June 1997 through the Southcorp U.S. distribution
network. Annual sales of the Seven Peaks brand grew to 70,000 cases
in 2001.
1996
- 1999 - Mildara Blass, (based in Australia)
IWA
was engaged by Mildara Blass to develop a global growth strategy
for the company and served as the Project Manager on the development
of their California wine project for over three years. IWA provided
the following services to Mildara Blass :
-
Strategic analysis
with rationale for the project
-
Review of costs, implications
and recommendation on the alternative methods of entry into
the California wine business for Mildara Blass such as winery
acquisition, joint-venture or winemaking project
-
Project Management services:
research and negotiation of grape supply contracts, production
capacity, on-going management of the project
-
Acquisition, financial and
strategic investment advisory services: review, analysis and
evaluation of target wineries and initiation of transactions
Mildara Blass started winemaking operations in California with the
1997 harvest and their California brand, Bayliss & Fortune was introduced
to the U.S. market in 1998. The company also acquired 200 plantable
acres of land in the Napa Valley from Juliana Vineyard in 1998 to
anchor and support their Bayliss & Fortune brand. IWA initiated
this transaction and served as the advisor to Mildara Blass.
1995 - Charles Krug
Winery (owned by Peter Mondavi & Sons), California - USA
IWA
was hired to manage the re-staging of the CK Mondavi varietal brand
for this leading Napa Valley winery. This involved the development
and management of a five-year strategic marketing plan and all elements
for the product re-launch (i.e. five year grape supply, business
and financial plans, budgets, wine blend development, competitive
positioning, new packaging design, development / production of advertising
and all marketing materials, etc). The CK Mondavi brand was re-launched
in September 1995. In April 1997, Charles Krug announced that sales
of CK Mondavi had grown to 491,000 cases in 1996, an increase of
over 225% from 1995 sales of 151,000 cases.
1994-1995
- a leading ultra-premium California winery
IWA
was retained by one of California's leading ultra-premium wineries
to represent the company in selling a significant minority share
holding owned by a dissident shareholder. The company has a strong
production, marketing and financial record in the business. IWA
prepared various alternative financial positions for the Board of
Directors and developed a presentation format to interest potential
investors. IWA selectively screened and negotiated with U.S. and
overseas buyers on behalf of the winery.
1991-1993
- Heublein (a division of Diageo), California - USA 
In 1989, Heublein acquired Christian Brothers
Winery in California and needed to sell various Napa Valley properties.
Because of its unique wine industry experience, IWA and partners
were selected to represent Heublein in the sale of the Napa Valley
historic landmark building, The Greystone, the Oakville Winery (a
5,000-ton production facility) and vineyards in the Napa Valley.
IWA represented Heublein in the sale of The Greystone to The Culinary
Institute of America in an unusual transaction that brought the
leading U.S. hospitality and culinary school to the Napa Valley.
IWA also sold the Oakville Winery to Pelissa & Hale, a local vineyard
group that developed the facility into The Napa Wine Company, one
of the Valley's leading contract winemaking resources.
2000-2001
- The Hogue Cellars, Washington - USA
The owners of The Hogue Cellars, Mike Hogue and
Norm McKibben, engaged the services of IWA in 2000. The IWA brief
was to provide the ownership with a fair market value of the business
under the prevailing market conditions in the United States and
to subsequently sell the company.
IWA provided a complete valuation of the business and advised the
owners as their exclusive investment advisor regarding how to approach
a sale of the company.
IWA developed an Information Memorandum and a target buyer list,
screened the targets regarding their level of interest, made approaches
on behalf of Hogue, managed the due diligence process and negotiated
all final purchase and sale agreements with the buyer's representatives.
The ownership retained most of their vineyards in this transaction
and IWA represented them in negotiating long-term grape supply contracts
with the buyers of the company. In September of 2001 IWA finalized
the transaction and represented the partners in the sale of The
Hogue Cellars to Vincor International Inc. of Canada for US$40 million.
 2000
- Canoe Ridge Vineyards, Washington - USA
The Chalone Wine Group and their Washington partners
in Canoe Ridge Vineyards engaged the services of IWA to provide
a fair market valuation of the business. The purpose of this report
was to assist the ownership of Canoe Ridge Vineyards in defining
a realistic value for the company under the prevailing market conditions
in the United States.
Following the completion
of the IWA valuation, Chalone, the majority owner in the partnership,
acquired the interest of the Washington minority partners of the
company.
1995
- Hinman Vineyards owned by Chambers Corp., Oregon - USA
This
leading Oregon winery hired IWA to prepare a Five Year Strategic
Plan with the management team, incorporating the business plan for
marketing and sales, operations and capacity expansion, staffing
and general management. Using computer-forecasting models, IWA developed
all financial documents to prepare "what-if" scenarios for evaluation
during the planning process.
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