Half of US wineries face new ownership by 2018
Published: 23 July, 2008
Some 51% of Western US wineries will change hands in the next decade, according to a new report.
The report, 'Ownership Transitions in the Wine Industry,' backed by wine business advisory group Scion Advisors and the Silicon Valley Bank, suggests that 88% of the region's wineries were started after 1975, and with three-quarters still family owned, many would change hands in the next decade.
Other factors beyond the age profile of winery owners included increasingly complex regulations, competition and sales and marketing issues.
The report's backers claimed that many owners of the affected wineries were ill prepared for future developments, including selling on their businesses.
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