US: Vineyard, winery buyers talk recent deals at wine conference
US: Vineyard, winery buyers talk recent deals at wine conference
Apr 18, 2013 6(PressDemocrat) - There's no question that North Coast vineyards and wineries have been changing hands at a record pace. But buyers, beware: Not everything that's up for sale makes a good buy, experts say.
A panel of some of the industry's most active buyers of vineyards, wineries and brands on Thursday revealed the things that can turn them off to a deal. The discussion was part of the Wine Industry Conference hosted by the North Bay Business Journal at the Vineyard Creek Hyatt in Santa Rosa, which drew more than 450 wine executives on Thursday.
One deal-breaker panelists agreed on: There are too many vineyards with pesky mansions on the property
.“One of the biggest impediments I've seen to local vineyard deals … is that inevitably, someone's built a $3 or $4 million house on it,” said Jeff Wesselkamper, president of Jackson Family Investments.
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