Silicon Valley Bank, a provider of commercial banking services to the innovation sector and the wine industry, released a new study, “Ownership Transitions in the Wine Industry”. Rob McMillan, founder of Silicon Valley Bank’s Wine Division and author of the study, reports, based on a survey of 646 West Coast wineries, 31% from California, Oregon and Washington would consider selling under the right circumstances, and of those 10.5% are strongly considering a sale or are hopeful a sale will take place.
McMillan states ”If you’re in the market for a winery as a commercial entity or a family business, there’s never been a better time.” The current pace of ownership transitions in the last – and next – few years is the highest the West Coast wine industry has ever seen. There are plenty of opportunities for strategic buyers to acquire labels and production capacity, and for high net worth individuals to find their own place in the fine wine business.
For more information on Silicon Valley Bank’s annual Wine Conditions Survey contact the author Rob McMillan at rmcmillan [@] svb .com