September 21, 2011
Andre, Morris & Buttery Closes Third Winery Sale Contract
Firm executes more than $100 million in sale contracts
San Luis Obispo, CA — Central Coast law firm Andre, Morris & Buttery has concluded its third recent wine industry transaction, logging a total of more than $100 million in sale contracts. Andre, Morris & Buttery principal and leader of the winery merger team, Michael Morris, represented Sonoma Valley winery Overlook Vineyards in the recent sale of Landmark Winery. The sale price was not disclosed.
Landmark is located in Kenwood in the heart of Sonoma County wine country, and includes production of 20,000 cases of wine per year, organically farmed estate vineyards, a tasting room and on site overnight guest accommodations. Landmark produces chardonnay, syrah, pinot noir and grenache and sells its wines throughout the United States and some foreign countries.
The sale of Landmark involved complex financial, real estate and regulatory issues unique to the wine industry. Morris notes that the sale of a winery involves multiple assets and presents its own set of challenges that are then magnified by government regulations unique to the industry. “Winery deals are some of the most complicated business transactions unfolding today,” Morris said. He was joined by firm principals Bill Douglass along with associate Karen Fothergill in handling the transaction.
AMB’s work representing Justin and Deborah Baldwin in the recent sale of JUSTIN Vineyards and Winery of Paso Robles has attracted the attention of the California wine industry. “More and more wine operations are reaching maturity and their owners are seeking sale opportunities,” Morris said. “Our firm has developed a great reputation for representing this specialized area, and we are gratified to have the opportunity to represent parties in these transactions.”
Andre, Morris & Buttery is a 62-year-old business law firm with offices in San Luis Obispo and Santa Maria. In addition to Landmark Vineyards and JUSTIN Vineyards and Winery, the firm also represented the seller of local Central Coast winery Domaine Alfred.