Issue link: http://read.dmtmag.com/i/369547
7 0 V I N E YA R D & W I N E RY M A N A G E M E N T | S e p t - O c t 2 014 w w w. v w m m e d i a . c o m ith lender credit and wine sales flowing, 2014 is set to mark the best comeback year since the reces- sion began. Wineries and vineyards that tightened their belts through the tough times are finding favorable financ- ing opportunities now to expand production, invest in vineyards and new grape supply and, in keeping with the hottest trend, build out their hospitality areas. From a borrower and lender point of view, there is more money chasing a finite number of high-quality winery deals, giving winery and vineyard owners the kinds of terms and flexibility not seen in more than a half a decade. Given the improvement in winery performance over the past few years and the gradual improvement in the economy, banks have more confidence in wineries' forecasts and are lend- ing funds that historical cash flows might not have been BY MARK FREUND Need Expansion Capital? The Time is Ripe. Favorable borrowing environment creates opportunities it it to to sion beg sion beg | + 2014 promises to be the best comeback year since the Great Recession. + Winery and vineyard owners are being offered terms and flexibility not seen in years. + Mergers and acquisitions are returning to healthy levels. + Wines priced $10-$18 are expected to see the biggest growth in sales. AT A GLANCE