IWA Company Profile

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IWA Company Profile

  1. 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. Silverado Hill Winery R ESONANCE VINEYARD P.O. Box 1330,625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 www.intlwine.com
  2. 2. I NTERNATIONAL W INE A SSOCIATES MERGERS & ACQUISITIONS–GLOBAL WINE ADVISORS–CORPORATE FINANCE–PLANNING–VINEYARD BROKERS P OST O FFICE B OX 1330, 625 H EALDSBURG A VENUE HEALDSBURG, CALIFORNIA 95448, U.S.A Robert M. Nicholson Josh Grace Sally Nicholson, Broker Telephone: (707) 433-8122 Facsimile: (707) 433-7519 E-Mail : IWA@intlwine.com 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 $350 million that have included the sale of a number of prestigious estates. Strategic Planning & General Management: IWA works with clients as strategic and tactical advisors to the Chief Executive and to the board of directors on the start-up and management of new wine projects, the structuring of joint-ventures, technical and operational issues, on the development of strategic and financial plans and on restructuring companies. Marketing and Distribution: IWA works with companies in the preparation and management of business plans. IWA has developed and repositioned wine brands for sale in the U.S. and overseas and has distribution experience in most major wine markets of the world. IWA advises on the development of the U.S. for overseas wine companies who are new to the market. IWA locates distribution and joint venture partners and negotiates and structures agreements. WWW.INTLWINE.COM
  3. 3. International Wine Associates MERGERS & ACQUISITIONS–GLOBAL WINE ADVISORS–CORPORATE FINANCE–PLANNING–VINEYARD BROKERS Post Office Box 1330, 625 Healdsburg Avenue HEALDSBURG, CALIFORNIA 95448, U.S.A. TELEPHONE : 707/433-8122 ROBERT M. NICHOLSON FACSIMILE : 707/433-7519 JOSH GRACE e-mail: iwa@intlwine.com SALLY O’NEILL NICHOLSON, BROKER http://www.intlwine.com Incorporated in 1990 IWA has completed transactions valued at over US$ 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 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, 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 Tuck 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 : 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. Sally graduated with a BSc degree in Design from University of California, Davis. WWW.INTLWINE.COM
  4. 4. INTERNATIONAL WINE ASSOCIATES MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING IWA VINEYARD BROKERS Selected Transactions & Projects Terlato Wines, Chicago, Illinois Sell-Side Advisory IWA served as advisors to Terlato Wines and initiated the sale of Alderbrook Winery, Sonoma County, (excluding the brand) to a private investor. Terlato Wines is a leading importer and marketer of luxury wines in the United States. 2013 Resonance Vineyard, Oregon Sell-Side Advisory IWA represented Resonance Vineyard as exclusive advisors in the sale to Louis Jadot. Resonance Vineyard is located in the Yamhill-Carlton AVA and is one of Oregon’s most highly rated Pinot Noir vineyards. Louis Jadot is one of Burgundy’s leading wine producers. 2013 Mayacamas Vineyards, Napa Valley, California Sold to a Sale of Alderbrook Winery Healdsburg, California December, 2013 Sold to a Acquired R ESONANCE VINEYARD Oregon August, 2013 Sell-Side Advisory IWA represented Mayacamas Vineyards as exclusive advisors in the sale to a private investor group. Mayacamas is a historic producer of Napa Valley Cabernet Sauvignon and was a highly rated participant in the famous 1976 “Judgment of Paris Tasting”. 2013 Sold to a Private Investor Group April, 2013 Silverado Hill Winery Silverado Hill Winery, Napa Valley, California Sell-Side Advisory IWA represented Silverado Hill Winery, located in the Napa Valley, in the sale to the Laird Family Estate. Silverado Hill Winery was owned by CalPERS. The Laird family is one of the largest private vineyard owners in the Napa Valley. 2013 Pine Ridge Vineyards, Napa Valley, California January, 2013 Sale of a vineyard Rutherford, California January, 2013 Sell-Side Advisory IWA served as exclusive advisors and represented Lancaster Estate and Roth in the sale to Foley Family Wines. IWA valued the business, negotiated all aspects of the transaction and managed the due diligence process to the close. Lancaster is a prestigious Bordeaux estate winery in the Alexander Valley. Foley Family Wines is a leading producer of California wines. 2012 Sausal Vineyard & Winery, Healdsburg, California Laird Family Estate Sell-Side Advisory IWA served as the advisors to Pine Ridge Vineyards and initiated the sale of a vineyard asset in the Rutherford appellation of the Napa Valley. The property was sold to a private investor. 2013 Lancaster Estate, Healdsburg, California Sold to the Sold to Foley Family Wines November, 2012 Sell-Side Advisory IWA represented Sausal Vineyard and Winery in the sale of the property and business to Silver Oak Cellars. Sausal is one of the Alexander Valley’s oldest Zinfandel boutique wineries. Silver Oak Cellars is one of California’s best known producers of Cabernet Sauvignon. 2012 P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 Sold to Silver Oak Cellars August, 2012 www.intlwine.com
  5. 5. INTERNATIONAL WINE ASSOCIATES MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING IWA IWA VINEYARD BROKERS Selected Transactions & Projects a U.S. subsidiary of Grupo Codorniu (Artesa Winery, California), Spain Sell-Side Advisory IWA served as exclusive advisors to Artesa, the U.S. subsidiary of Grupo Codorniu in the valuation and sale of an Alexander Valley vineyard to Duckhorn Vineyards. Grupo Codorniu is the largest sparkling wine producer in the world. Duckhorn Vineyards is a leading Napa Valley producer of Merlot. 2012 Moet Hennessy USA (Domaine Chandon), California June, 2012 Sell-Side Advisory IWA represented Domaine Chandon and initiated the sale of a Sonoma County vineyard asset to Sangiacomo Family Vineyards. Domaine Chandon is one of the largest sparkling wine producers in California. Sangiacomo has been farming in Sonoma County for over 80 years. 2012 Constellation Brands, New York Sale of an Alexander Valley Vineyard to Duckhorn Sale of a Sonoma County Vineyard Asset June, 2012 Sell-Side Advisory IWA represented Constellation Brands and initiated the sale of the Blackstone Winery in Kenwood, California to a private wine industry investor. Constellation Brands is a leading international producer and marketer of beverage alcohol. 2012 Sale of Blackstone Winery Kenwood, California May, 2012 Diageo North America, New York Sell-Side Advisory IWA served as exclusive advisors to Diageo and initiated the sale of Edna Valley Vineyard to E.&J. Gallo Winery. IWA represented Diageo and managed the due diligence process to a close of the transaction. Edna Valley is one of the largest producers of Chardonnay and Pinot Noir in California’s Central Coast with annual sales of 400,000 cases. E. & J. Gallo is the largest privately held winery in the world. 2011 Laurel Glen Vineyard, Sonoma, California Sold to E.&J. Gallo July, 2011 Sell-Side Advisory IWA served as the exclusive advisor and completed a sale of Laurel Glen to private investors. Laurel Glen is one of California’s best known Cabernet estates. 2011 Sold to Private Investors March, 2011 Pacific Rim Winemakers, Washington Sell-Side Advisory IWA served as exclusive advisors to owner Randall Grahm and initiated the sale of Pacific Rim Winemakers to the Mariani family, owners of Banfi Vintners. Pacific Rim is a 200,000 case Riesling producer. Banfi Vintners is a leading U.S. wine importer and this acquisition was their first investment in the U.S. wine industry. 2010 Hangar One Vodka, California Valuation & Sale of the company to Banfi December, 2010 Sell-Side Advisory IWA served as the exclusive financial advisors and initiated the sale of the Hangar One vodka brand and distribution rights to a U.S. subsidiary of Jose Cuervo. Hangar One is the leading brand of craft distilled vodka in the USA. Jose Cuervo is the world’s largest producer of tequila. 2010 P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 Phone: 707/433-8122 Valuation & Sale of trademark & distribution rights to Jose Cuervo April, 2010 www.intlwine.com www.intlwine.com
  6. 6. INTERNATIONAL WINE ASSOCIATES MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING IWA VINEYARD BROKERS Selected Transactions & Projects Brown-Forman, Louisville, Kentucky Sell-Side Advisory IWA served as the advisors to Brown-Forman and initiated the sale of the Five Rivers Vineyard in Paso Robles. Five Rivers is a 427 acre estate vineyard that was sold to Silverado Premium Properties. Silverado is one of California’s largest vineyard companies. 2010 McManis Family Vineyards, California Sale of Five Rivers to Silverado Premium Properties April, 2010 Strategic Advisory IWA was originally engaged to evaluate the business. This included a strategic review and financial analysis of the winery and vineyard business. A number of IWA recommendations were implemented. 2009 - 2010 Strategic Advisors 2009-2010 Yalumba, Australia Sell-Side Advisory IWA acted as exclusive financial advisor to Yalumba, Australia, in initiating and completing the sale of their San Mateo Ranch vineyard in the Napa Valley to Long Meadow Ranch. The Rutherford Sauvignon Blanc vineyard sold at a record price ($170,000/acre). 2008 Yalumba Sold San Mateo Ranch Vineyard to Long Meadow Ranch October, 2008 Constellation Brands, New York $99 Million Sell-Side Advisory IWA served as advisors to and represented Constellation in their sale of certain California and Pacific Northwest wine brands and inventory to Ascentia Wine Estates. The assets included the sale of Geyser Peak, Buena Vista, Gary Farrell, Atlas Peak, XYZin in California; Columbia Winery and Covey Run in Washington and Ste. Chapelle in Idaho. This transaction resulted in the creation of a new wine company, Ascentia Wine Estates, with annual sales of over 1 million cases. Constellation Brands is a leading international producer and marketer of beverage alcohol. 2008 Valuation & Sale of certain California & Pacific Northwest Wine Brands & Inventories June, 2008 a US subsidiary of Entertainment Properties Trust Constellation Brands, New York $110 Million Sell-Side Advisory IWA served as advisors to and represented Constellation in their sale of various wineries (Geyser Peak, Buena Vista, Gary Farrell in California and Columbia Winery in Washington) and 571 acres of vineyard assets to EPR Properties which is a subsidiary of Entertainment Properties Trust. Constellation Brands is a leading international producer and marketer of beverage alcohol. 2008 Demuth Winery & Vineyard, Mendocino County Sell-Side Advisory IWA acted as exclusive advisor to Demuth in the sale of the winery and vineyard to a private investor. 2008 EPR Properties has acquired various wineries and 571 acres of vineyard assets from June, 2008 Demuth Winery & Vineyard Sold to Private Investors January, 2008 Davis Bynum Winery, Healdsburg, California Sell-Side Advisory IWA served as the exclusive strategic advisor to Davis Bynum and initiated the sale of their brand to Klein Family Vintners in August, 2007. IWA also served as advisor and initiated the sale of the winery and vineyards to a private investor in March, 2008. Davis Bynum is a leading Russian River producer of Pinot Noir. P.O. Box 1330,625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 Valuation & Sale of the Davis Bynum brand, winery & vineyard August, 2007 March, 2008 www.intlwine.com www.intlwine.com
  7. 7. INTERNATIONAL WINE ASSOCIATES MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING IWA VINEYARD BROKERS Selected Transactions & Projects Chateau Potelle, Napa Valley, California Sell-Side Advisory IWA acted as exclusive strategic and financial advisor to Chateau Potelle and initiated the sale of the winery and vineyard to Jackson Family Farms. Respected Mount Veeder estate. Jackson Family Farms is a subsidiary of privately held Kendall-Jackson Vineyard Selected Transactions & Projects Estates. 2007 Hedin Vineyard, Healdsburg, California Sell-Side Advisory IWA acted as exclusive advisor in the valuation and sale to Rudd Estate. Hedin is a well known Russian River vineyard. This property will be used as a Sonoma base for Rudd Estate. 2007 Havens Wine Cellars, Napa Valley, California Sell-Side Advisory IWA initiated this transaction and served as strategic advisors and broker to Havens in the valuation and sale of the winery and vineyard to a U.S. subsidiary of Entertainment Properties Trust, EPR Properties. Havens is a leading producer of Napa Valley Syrah and Merlot. 2006 Havens Wine Cellars, Napa Valley, California Valuation & Sale of winery & vineyards to Kendall-Jackson September, 2007 Hedin Vineyard Valuation & Sale of the vineyard to Leslie Rudd April, 2007 a US subsidiary of Entertainment Properties Trust EPR Properties has acquired December, 2006 Sell-Side Advisory IWA acted as exclusive advisor to Havens in the valuation and sale of the brand to Billington Imports. Havens is a leading producer of Napa Valley Syrah and Merlot. Billington is a wine importer and marketer. 2006 Valuation & Sale of the brand December, 2006 Bonny Doon Vineyard, Santa Cruz, California Sell-Side Advisory IWA served as exclusive and strategic financial advisor to Bonny Doon and provided a valuation of the entire company prior to initiating and managing the sale of the Big House and Cardinal Zin brands to The Wine Group. Bonny Doon is owned by Randall Graham and is one of California’s best known wine companies. The Wine Group is the third largest wine company in the USA. 2006 Koves-Newlan Winery, Napa Valley, California August, 2006 Sell-Side Advisory IWA acted as exclusive financial advisor to Koves-Newlan in initiating and completing the sale of the winery and vineyard to a private buyer. Koves-Newlan is a producer of Napa Valley wines. 2006 Cline Cellars, Sonoma, California Sale of Big House & Cardinal Zin to The Wine Group Valuation & Sale of the winery & vineyard June, 2006 Sell-Side Advisory IWA served as exclusive strategic financial advisors for Cline Cellars and initiated the sale of their Red Truck brand to 585 Wine Partners. Cline is a leading producer of Sonoma County wines. This transaction resulted in the creation of 585 Partners, a new US wine marketing company. 2005 P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 Valuation & Sale of red truck December, 2005 www.intlwine.com
  8. 8. INTERNATIONAL WINE ASSOCIATES MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING IWA VINEYARD BROKERS Selected Transactions & Projects Financial Advisory 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 Wild Horse Winery & Vineyards, Templeton, California IWA acted completion subsidiary acquisition Financial Advisors 2005 $34 Million Sell-Side Advisory as financial advisors to Wild Horse in a plan to reduce debt. After of a valuation IWA initiated and managed a sale of the business to a of Jim Beam (Fortune Brands). This was the second winery by Jim Beam that IWA had advised on. 2003 Valuation & Sale of the business to Jim Beam August, 2003 Selected Transactions & Projects Wells Fargo Business Credit, California Financial Advisory IWA served as the exclusive, strategic wine industry advisor to Wells Fargo during the bankruptcy of DeLoach Vineyards. IWA evaluated the DeLoach bankruptcy work-out plans, prepared and implemented alternative work-out scenarios, valued the business court testimony and wine industry benchmark data. Spring & Summer, 2003 The Chalone Wine Group, California Valuation & Sale of Carmenet to Beringer August, 2002 $37 Million Sell-Side Advisory IWA served as exclusive financial advisors to Hogue and valued the company and then initiated and managed a sale of the company to Vincor of Canada. Hogue is the third largest wine company in Washington. Vincor is the largest wine company in Canada and this transaction was their second US winery acquisition. 2001 Cabonne Limited, Australia Spring & Summer, 2003 Sell-Side Advisory IWA served as exclusive strategic advisor to Chalone and initiated and completed a sale of the Carmenet brand to Beringer. Chalone was one of the only publicly traded wine companies in the USA. Beringer is a subsidiary of Fosters. 2002 The Hogue Cellars, Washington Financial & Strategic Wine Industry Advisors Valuation & Sale of Hogue Cellars to Vincor September, 2001 Strategic Advisory IWA served as advisor to Cabonne in the location and negotiation of a joint venture agreement with Trinchero (Sutter Home) to create a jointly owned brand of Australian wines. Trinchero is one of California’s largest wine company. 2000 and Cabonne Limited Joint Venture December, 2000 P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 www.intlwine.com www.intlwine.com
  9. 9. INTERNATIONAL WINE ASSOCIATES MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING IWA VINEYARD BROKERS Selected Transactions & Projects The Chalone Wine Group, California Buy-Side Advisory & Financial Advisory IWA acted as exclusive advisors to Chalone on a number of projects in 2000 & 2001. IWA was retained to locate a Napa Valley winery or vineyard and Chalone acquired the prestigious Hewitt vineyard in Rutherford. IWA also served as advisors to Chalone and their Washington partners in Canoe Ridge Vineyards to provide a valuation of the business, to assist Chalone in the buy-out of their local partners. Canoe Ridge is a leading ultra-premium Washington wine producer. Selected Transactions & Projects 2000-2001 Sonoma-Cutrer Vineyards, California 2000-2001 Sell-Side Advisory & Fairness Opinion IWA acted as advisor to Sonoma-Cutrer in obtaining an additional competitive bid for the company and provided a fairness opinion on the lead offer from Brown-Forman. Sonoma-Cutrer is a well-known ultra-premium estate grown California Chardonnay producer and was sold to Brown-Forman. 1998-1999 Masi Agricola, Italy Stellenbosch Farmers Winery, South Africa Strategic Advisor & Fairness Opinion in sale to Brown-Forman March, 1999 Strategic Advisory IWA served as advisors to Masi in the development of their strategic and financial plan for a new project in Argentina. Masi is a leading producer of ultra-premium Italian wines and was developing a new vineyard and winery project in Argentina. 1999-2001 Strategic Advisors in Argentina 1999-2000 Strategic Advisory IWA acted as advisor to SFW to conduct a global strategy review for the company. SFW is the largest producer of wines and spirits in South Africa and in 2001, SFW merged with Distillers Corporation, another leading South African wine and beverage company, to form Distell. 1998 Vina Ventisquero, Chile (Agrosuper) Strategic & Financial Advisory Services Global Strategy Review 1998 Strategic Advisory IWA is retained to structure joint ventures and establish global marketing and distribution for Vina Ventisquero. Agreements were signed with PLB, a leading UK distribution company (annual sales have developed to over 500,000 cases) and Click Wine Group in the USA (the Root:1 brand was developed and annual sales have grown to over 150,000 cases). Agrosuper is Chile’s largest food group with annual sales of over $2 billion. 1998-2013 Strategic Advisors 1998-2013 A subsidiary of Jim Beam (Fortune Brands), USA $98 Million Buy-Side Advisory IWA acted as financial advisor to Jim Beam and provided strategic management and due diligence services in their acquisition of Geyser Peak Winery in California. Following the acquisition IWA continued to work with Beam on related issues. This was the first wine acquisition made by Jim Beam. 1998-2001 P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 acquired August, 1998 www.intlwine.com www.intlwine.com
  10. 10. INTERNATIONAL WINE ASSOCIATES MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING IWA VINEYARD BROKERS Selected Transactions & Projects European Bank for Reconstruction & Development (EBRD), London $61.5 Million Strategic Advisory IWA served as strategic advisor to EBRD to provide due diligence services and an assessment and review of the business plans submitted to the Bank by Domaine Boyar to provide $61.5 million of debt & equity financing with ING Barings. Domaine Boyar is Bulgaria’s largest wine company. EBRD was established in 1991 following the collapse of communism to aid in the transition to market economies. 1998 Mildara Blass (Fosters Brewing Group), Australia Strategic Advisory IWA served as strategic advisors to Mildara Blass to develop and implement a global growth strategy to produce wines in other New World countries. As Project Manager, IWA developed projects in the USA and Chile: a joint venture in Chile with Vina Santa Carolina and the start-up of winemaking operations in California. Mildara Blass, Australia’s fourth largest wine company, was acquired by Fosters in 1995. 1996-1999 Paragon Vineyard, California Strategic Advisory IWA acted as advisors to Paragon and initiated and negotiated a joint-venture with Southcorp Wines of Australia. A joint venture was established and IWA worked in a general management role to provide direction on financial, production, brand development and other marketing issues. Southcorp was Australia’s largest wine company. 1996-2000 Due Diligence for Debt & Equity Financing Domaine Boyar August, 1998 Mildara Blass Ltd. JV in Chile & winemaking operations in California 1996-1999 and Paragon Vineyard Co. Joint Venture August, 1996 Viña Errazuriz Vina Errazuriz, Chile Strategic Advisory 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 Charles Krug Winery, Napa Valley, California to Robert Mondavi October, 1995 Strategic Advisory IWA served as the strategic advisor to Charles Krug in re-staging the CK Mondavi brand. A five year strategic plan was developed for a brand re-launch (incl. product re-formulation, supply, re-positioning & re-packaging, marketing and sales, etc.). The CK Mondavi brand was re-launched in September, 1995. Charles Krug announced that sales of CK Mondavi had grown to 490,000 cases in 1996, an increase of over 225% from the previous year. Charles Krug is one of Napa Valley’s oldest wineries and is owned by the Peter Mondavi family. 1995 Hinman Vineyards (owned by Chambers Corp.), Oregon Sold interest in Strategic Advisors 1995 Strategic Advisory IWA served as advisors to Hinman in the preparation of a five year strategic plan with the management team. Hinman is an ultra-premium Oregon wine business. 1995 P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 Strategic Advisors 1995 www.intlwine.com
  11. 11. INTERNATIONAL WINE ASSOCIATES MERGERS & ACQUISITIONS GLOBAL WINE ADVISORS CORPORATE FINANCE PLANNING IWA VINEYARD BROKERS Selected Transactions & Projects Southcorp Holdings, Australia Buy-Side Strategic Advisory IWA served as the strategic financial advisor to Southcorp and provided due diligence and financial analysis of the 25 leading USA winery targets for Southcorp’s strategy to expand into the US wine industry with a major acquisition. Southcorp is the owner of leading Australian wine producers: Penfolds, Lindemans, Wynns and others. 1993 Heublein (a division of Diageo), California Selected Transactions & Projects Strategic Advisory IWA served as exclusive strategic advisor to Bodegas AGE on the development and implementation of international marketing strategies. Bodegas AGE is the second largest producer of Rioja wines and the IWA engagement started immediately following the company's acquisition by Banco Banesto from Guiness (Diageo) and lasted for three years. 1991-1993. Vina San Pedro, Chile (Banco Banesto, Spain) Sale of the Oakville Winery to Pelissa & Hale 1993 Sell-Side Strategic Advisory IWA served as advisors and represented Heublein in the sale of the historic Greystone Building in Napa Valley to The Culinary Institute of America. Heublein is a subsidiary of Diageo, the largest beverage alcohol company in the world. 1992-1993 Bodegas AGE, Spain (Banco Banesto, Spain) 1993 Sell-Side Strategic Advisory IWA represented Heublein and initiated the sale of the Oakville Winery to Pelissa & Hale. Heublein is a subsidiary of Diageo, the largest beverage alcohol company in the world. 1992-1993 Heublein (a division of Diageo), California Financial & Strategic Advisors Financial & Strategic Advisory IWA served as financial and strategic advisor to Vina San Pedro and provided a company valuation and initiated discussions with international strategic investors. IWA continued to serve as strategy advisor in product development, international initiatives and in the engagement of an international winemaking team. Vina San Pedro is Chile's third largest winery and was the Chilean wine subsidiary of Banco Banesto, Spain's largest bank. 1990-1993 P.O. Box 1330, 625 Healdsburg Avenue, Healdsburg, CA 95448 Phone: 707/433-8122 Sale of The Greystone Building to 1993 Development & Implementation of marketing strategies 1991-1993 Valuation & Strategic Advisors 1990-1993 www.intlwine.com
  12. 12. MERGER & ACQUISITION ADVISORS TO THE GLOBAL WINE INDUSTRY Total transactions completed valued at over US $ 1 Billion has sold Alderbrook Winery Healdsburg, California has acquired to A Private Investor has sold to a Private Investor Group IWA served as exclusive advisors and represented Terlato Wines in this transaction December 2013 IWA served as exclusive advisors and represented Resonance Vineyard in this transaction August 2013 IWA served as exclusive advisors and represented Mayacamas Vineyards in this transaction April 2013 Silverado Hill Winery has sold to has sold to has sold a Vineyard In Rutherford, California to a Private Investor IWA initiated this transaction and represented Silverado Hill Winery IWA initiated this transaction and served as exclusive advisors to Pine Ridge Vineyards January 2013 January 2013 IWA served as exclusive advisors and represented Lancaster November 2012 a U.S. subsidiary of has sold a Vineyard in Sonoma Coast, California to has acquired IWA represented Sausal and served as exclusive advisors in this transaction August 2012 has sold has sold a Vineyard in Alexander Valley, California to IWA initiated this transaction and served as exclusive advisors to Grupo Codorniu (Artesa Winery) June 2012 IWA represented Moet Hennessy (Domaine Chandon) in this transaction June 2012 has sold their 50% ownership in Blackstone Winery Kenwood, California to a has been acquired by to A Group of Private Investors Private Wine Industry Investor IWA initiated this transaction and represented Constellation May 2012 IWA served as exclusive advisors to Diageo & initiated this transaction. July 2011 IWA served as exclusive financial advisors & real estate broker to Laurel Glen March 2011
  13. 13. The Mariani Family Banfi Vintners has acquired Sold the trademark and marketing rights to Proximo Spirits, Inc. A subsidiary of Sale of Five Rivers Vineyard, Paso Robles to Silverado Premium Properties IWA initiated this transaction & served as advisors to Pacific Rim December 2010 IWA served as exclusive financial advisors to Hangar One & represented Craft Distillers & St. George Spirits April 2010 IWA served as advisors to Brown-Forman & initiated the sale of a 427 acre vineyard to SPP April 2010 a subsidiary of Entertainment Properties Trust EPR Properties has sold San Mateo Ranch Vineyard Rutherford, California to Longmeadow Ranch IWA initiated this transaction & served as strategic advisors to Yalumba in the sale to Long Meadow Ranch October 2008 Demuth Winery & Vineyard Sold Certain California & Pacific Northwest Wine Brands & Inventory (Geyser Peak, Buena Vista, Gary Farrell, Atlas Peak, XYZin, Columbia Winery, Covey Run & Ste. Chapelle) to has acquired various wineries (Geyser Peak, Buena Vista, Gary Farrell & Columbia) and 571 acres of vineyard assets from Ascentia Wine Estates IWA served as advisors & represented Constellation in a $99 million transaction and managed the Due diligence process June 2008 IWA served as advisors & represented Constellation in a $110 million transaction and managed the due diligence process June 2008 Klein Family Vintners has acquired Anderson Valley has been sold to A Private Investor IWA initiated this transaction & served as strategic advisors to Demuth A Russian River Wine Brand Healdsburg, California IWA initiated & served as strategic advisors to Davis Bynum in this transaction & sold the winery & vineyard assets to a private investor in a separate transaction March 2008 January, 2008 Leslie Rudd has acquired August 2007 a subsidiary of Entertainment Properties Trust EPR Properties 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 Billington Imports has acquired has acquired Hedin Vineyard a Napa Valley Brand Healdsburg, California IWA initiated this transaction & served as strategic advisors to Hedin April 2007 from a Napa Valley Winery & Vineyard Mobius Partnership IWA initiated this transaction & served as strategic financial advisors & broker to Havens IWA initiated this transaction & served as strategic financial advisors & broker to Mobius December 2006 December 2006
  14. 14. The Wine Group has acquired A Private Investor Big House & Cardinal Zin has acquired the California Wine Brands from Hillview Vineyard Property Napa Valley, California Napa Valley, California has been acquired by A Private Investor IWA initiated this transaction & served as strategic financial advisors to Bonny Doon August 2006 IWA initiated this transaction, acted as strategic financial advisors to Koves-Newlan June 2006 585 Wine Partners IWA served as broker & financial advisors to the seller November 2006 a subsidiary of has acquired red truck has acquired a California Wine Brand from Templeton, California IWA initiated this transaction & served as strategic financial advisors to Cline Cellars IWA initiated this transaction & acted as strategic financial advisors to Wild Horse in this $34 million sale Spring & Summer 2003 August 2003 December 2005 IWA served as financial & strategic wine industry advisors to Wells Fargo Bank in the DeLoach Vineyard bankruptcy a subsidiary of Vincor International Inc. has acquired 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 Prosser, Washington IWA initiated this transaction & served as exclusive financial advisors to Hogue September 2001 September 2002 Beckstoffer Vineyards has acquired the Talmadge Vineyard in Mendocino County, California from And has acquired Cabonne Limited IWA initiated this transaction & served as exclusive financial advisors to Parducci have established a global joint-venture to produce and market Australian wines. IWA represented Cabonne January 2001 December 2000 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
  15. 15. a subsidiary of Mildara Blass Ltd. has been acquired by has acquired Napa Valley Vineyard development property from has acquired Juliana Vineyards St. Helena, California IWA served as advisor & provided a Fairness Opinion to Sonoma-Cutrer March, 1999 IWA acted as advisor to Mildara Blass in the sale of a 100 acre vineyard September 1998 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 Mildara Blass Ltd. Mildara Blass Ltd. Sofia, Bulgaria has established winemaking operations in California IWA provided general management, financial & technical due diligence services to EBRD IWA initiated this transaction & acted as financial and strategic advisor to Mildara Blass Ltd. August 1998 June 1997 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 Robert Mondavi Corporation has acquired an interest in 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 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 has sold has sold The Oakville Winery Oakville, California to The Greystone Building St. Helena, California to Pelissa & Hale IWA & partners initiated this transaction & represented Heublein Inc. June 1993 IWA & partners initiated this transaction & represented Heublein Inc. January 1993 IWA provided due diligence and financial analysis of the 25 leading USA winery targets for acquisition by Southcorp 1993 October 1995 August 1996 IWA served as Financial & Strategic Advisors to Southcorp

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