September 17, 2018
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the financial advisor to LMR Wine Estates, a family-operated, ultra-premium Napa Valley multi-estate winery, in a debt refinancing with Goldman Sachs.
LMR Wine Estates (“LMR”) owns nearly 200 acres of planted vineyards in the highly sought-after Rutherford, Spring Mountain District and Anderson Valley appellations. A family-operated firm, which is led by Ted and Chris Hall, LMR is a pioneer in organic, sustainable farming and produces an award-winning portfolio of approachable, food-friendly wines. The company engaged Cascadia Capital to develop a comprehensive financing plan to refinance existing indebtedness, fund the buildout of a new production facility, as well as other key growth initiatives, including the recently announced acquisition of highly-regarded, family-owned Chardonnay producer, Stony Hill Vineyard.
“Cascadia helped us develop a framework for refinancing our capital structure and prepared us well for working with Goldman Sachs to tailor a credit facility that met our unique needs,” said Ted Hall, President & CEO. “We are very pleased with the professionalism and capabilities exhibited by both Cascadia and Goldman in securing our new credit facility.”
“LMR has built a compelling portfolio of highly attractive brand and vineyard assets and is well-positioned for continued growth as one of the leading family-owned producers based in the Napa Valley. We look forward to continuing to work with the LMR team as they execute their growth plan,” said Nicole Fry, Managing Director at Cascadia Capital.
The financing represents another successful transaction for the Cascadia team in the premium beverage alcohol sector. The team’s past transactions include representing Avery Brewing in its investment from Mahou San Miguel, 21st Amendment Brewing in its investment from The Brooklyn Brewery and Spiked Seltzer in its sale to Anheuser-Busch InBev.