The Unified Wine & Grape Symposium is one of the most important annual gatherings for California’s wine and grape industry, bringing together growers, vintners, investors, and industry professionals to discuss what’s next in wine business operations, market trends, and long-term strategy.
One of the most impactful sessions I attended this year was:
Love It or List It? Wine Edition: Mergers, Acquisitions and Exits
This panel offered a candid look at the current state of vineyard sales, winery mergers and acquisitions, and exit planning in today’s changing wine industry.
As someone who works every day in California vineyard real estate and winery transactions, I found the discussion incredibly relevant for owners thinking about the future of their business — whether that means holding long term or preparing for an eventual sale.
Meet the Unified Symposium Panel Experts
This session featured an experienced group of leaders across wine industry law, finance, investment, and M&A:
- Julie Lumgair (Moderator), Art Nouveau Wines
- John Trinidad (Moderator), Dickenson Peatman & Fogarty
- Pat DeLong, Azur Associates
- Matthew Parker, Nuveen Natural Capital
- Mario Zepponi, BMO Capital Markets
Each panelist brought a unique perspective on winery exits, vineyard valuations, and the realities of today’s buyer environment.
Selling a Vineyard or Winery Is a Long-Term Process
One of the clearest messages from the panel was this:
The timeline to sell a vineyard property or winery business can easily be a decade-long process.
These are not simple real estate deals — they are complex agricultural businesses with water, entitlements, operations, branding, and financial performance all under review.
The advice shared was consistent:
Prepare now — ideally 5 to 10 years in advance.
Owners who begin early planning have more flexibility, stronger negotiating power, and greater ability to protect long-term value.
More Intentional Exit Planning Creates Higher Vineyard Value
Another theme that stood out was how much intentional planning increases value in today’s market.
Being proactive might include:
- Structuring for a future change in ownership
- Clarifying partnership or succession plans
- Exploring a minor subdivision or value-add opportunity
- Strengthening operational and financial reporting
In vineyard and winery transactions, buyers pay for clarity and preparedness.
More intentional = more value.
Due Diligence Starts Before a Property Goes to Market
The panel emphasized that due diligence in vineyard sales now begins far earlier than escrow.
Today’s buyers want to understand the full risk profile upfront, including:
- Water rights and water availability
- Entitlements and permitted uses
- Business financial performance
- Contracts, leases, and operational documentation
- Overall business health checks
This “pre-diligence” process is becoming essential for successful vineyard and winery exits.
The Wine Industry Slowdown Is Bigger Than Just Sales Activity
The panel made it clear that the current slowdown is not only about fewer vineyard listings or fewer winery deals.
It reflects broader shifts in:
- Consumer demand
- Wine consumption trends
- Cost pressures
- Economic uncertainty
One statistic shared that really stood out:
85% of wineries produce fewer than 5,000 cases annually.
That means the vast majority of wineries are small businesses — and market changes can impact them quickly. For many owners, exit planning is tied directly to long-term sustainability.
Buyer Interest in Vineyard and Winery Acquisitions Has Dropped
Another direct takeaway:
Buyer interest has dropped.
The buyer environment is not what it was several years ago. Qualified buyers are still active, but they are far more selective and risk-conscious.
One quote from the panel captured the moment perfectly:
“Far more brands are chasing capital than capital is chasing brands.”
In today’s market, capital is careful — and fundamentals matter more than ever.
Foreign Investment Has Pulled Back from U.S. Wine Assets
The panel also discussed the decline in foreign investor confidence.
Historically, foreign investment represented a meaningful portion of wine industry capital — estimated around 30% of certain funds.
That pullback has created ripple effects across California vineyard real estate and winery acquisition activity, further contributing to today’s more cautious market.
Fundamentals and Focus Drive Successful Winery Exits
If I had to summarize the panel in one message, it would be:
Run the business as best you can.
The vineyards and wineries that succeed in today’s environment — and the properties that trade successfully — are those with:
- Strong financial fundamentals
- Operational discipline
- Clear risk management
- Focused long-term strategy
The era of selling purely on lifestyle appeal is fading. Buyers want strong businesses.
Final Thoughts: Love It or List It, Preparation Is the Advantage
Whether you love your vineyard and plan to hold it for generations, or you’re considering a winery sale or transition someday, the takeaway from Unified was clear:
Preparation is everything.
The owners who plan early, understand their numbers, and treat the vineyard as both land and business will be best positioned — whenever the time comes.
At Vineyard Professional Real Estate, we specialize in California vineyard sales, winery acquisitions, and long-term exit strategy across the Central Coast and wine country.
If you are beginning to think about the future of your vineyard or winery — even years in advance.
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