Portland Business Journal Quotes Chris Hermann on Likelihood of More M&A Activity in Oregon Wine Industry

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Partner Chris Hermann was quoted in the Portland Business Journal in an article titled “Why a wine industry dealmaker predicts more M&A in Oregon,” published January 19, 2022. The article discusses how mergers and acquisitions activity is being driven and is expected to continue to be driven by wine companies located outside Oregon interested in the benefits of owning an Oregon brand.

Though outsiders from within the U.S. have helped grow the Oregon wine industry for many years, recent deals in the state by wine companies based in Italy, France and elsewhere have cemented the importance of ownership of an Oregon brand to being considered a world-class winery. “I think it’s a new phase,” Hermann, founder of Stoel Rives’ Wine Law practice, said. “We’ve got these very well capitalized, very sophisticated businesses, conglomerates in many cases, bringing the kind of capital that you need to really move the industry forward in terms of being a worldwide brand.”

Hermann notes also that acquisition of an Oregon winery by an overseas wine company gives it a U.S. operation that can serve as a launching pad for direct-to-consumer sales. “So now, if I’m somebody that’s making a $50, $100 or $200 bottle of wine in France or Italy, I have a pathway to get that wine to market here and capture the full retail price, rather than only getting 30 to 50 cents on the dollar through the usual distribution channels.”

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