Seattle-based wine-focused private equity firm, Ackley Beverage Group announced it has agreed to acquire Merriman Vineyard, located at the edge of the Oregon Coastal Range for an undisclosed amount.
Planted with mostly Pinot Noir and some Chardonnay grapes in 1999, the 44 acre vineyard plans to expand fruit sourcing for Montinore Estate – the eighth largest winery in Oregon that partnered with Ackley in February of this year. Under the terms of the partnership, Montinore will craft premium wines and Ackley Beverage Group will provide marketing, sales, and operational support to the venture.
“I’m looking forward to working with this vineyard and using its high-quality fruit for our wines,” said Rudy Marchesi, president of Montinore Estate. “Our partnership with Ackley Beverage Group has provided Montinore with new resources. This current vineyard purchase will allow us to expand our existing portfolio of single-vineyard and ultra-premium wine offerings.”
Merriman Vineyard contains marine sedimentary soils that give the vineyard a terroir that produces rich fruit flavors and traits found in the highest quality Pinot Noirs according to a statement by Ackley.
“Wines produced from neighboring vineyards are already some of the most sought after, due in large part to this marine sedimentary soil. This flavor profile is a unique combination in the Willamette Valley and will bring additional complexity to Montinore’s wines,” said the company.
Investors in the Willamette Valley
Wine production took hold in the Willamette Valley in Oregon more than half a century ago, and although regions like Napa Valley still generally commandeer people’s perception of top wine regions, the Willamette Valley was named the Top Wine Region of 2016 by Wine Enthusiast Magazine.
This recognition is not only coming from the enthusiast corner – investors have been increasingly taking notice of the wine industry in the Pacific Northwest.
Winery purchases in the region this year include Jackson Family Wines acquisition of Penner-Ash Wine Cellars and WillaKensie Estate, and Crimson Wine Group’s purchase of Seven Hills Winery according to Great Northwest Wine. Meanwhile, Bacchus Capital Management has backed both DeLille Cellars and Dobbes Family Estate, and acquired the historic Panther Creek Cellars.
Other purchases in recent years include Gallo’s acquisition of Columbia Winery and Covey Run, Foley Family Wines’ purchase of Four Graces and Maison Louis Jadot’s acquisition of Resonance Vineyard.
“We are impressed with the number of outstanding producers in the Northwest,” Brandon Ackley, president of Ackley Beverage Group, stated in a news release. “Our partnership with Montinore Estate is a perfect example of the positive results that can come when great existing teams share long-term strategic goals.”
—
Lynda Kiernan