Tuesday, December 31, 2013

Wineries quietly up for sale

Spectator reports that as many as 50% (fifty percent!!) of the west coast wineries are quietly up for sale, or should be:

8. West Coast Wineries Are Up for Sale—Quietly 
With buyers snapping up leading California wineries QupéAraujoClos Pegase and Mayacamas over the year, and other players investing in Oregon and Washington, it seemed like the market for wineries is suddenly hot again on the West Coast. But it's an under-the-radar market. Plenty of wineries, faced with tough finances or generational change, are looking for buyers. But they're not advertising the fact. One of the buyers, Charles Banks, estimates that between 30 to 50 percent of California wineries are either in financial difficulty or aren’t as profitable as they could be. “And everyone is trying to be quiet because they’re not broke and their name may be on the winery.”

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