US: Lenders see uptick in wine industry demand
US: Lenders see uptick in wine industry demand
Nov 12, 2012 6
(NBBJ) - A number of wine industry lenders in the North Bay have seen an uptick in demand for financing this year as wineries, vineyards and related industries seek to position themselves more strongly in a changed economy.
Those increases have been supported by a wave of mergers and acquisitions, both by investors and by wineries seeking to own vineyards and secure their supply chain, lenders said. Smaller wineries have pushed to develop direct-to-consumer sales amid a contraction of distribution channels, and historically high grape prices have helped spur vineyard development.
“We have tremendous demand right now. It’s the busiest we’ve been in years,” said Bill Rodda, vice president of the capital markets group at Santa Rosa-based farm credit cooperative, American AgCredit.
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