Ponzi Vineyards purchased by Bollinger

[Marcus Goodfellow]

https://www.winespectator.com/articles/ ... -vineyards

The Ponzi family is one of the true early pioneers, and a huge part of the evolution of Willamette Valley wines. They also were instrumental in the genesis of the micro-brew revolution in Oregon. It’s great to see them succeed and be recognized for their work.

[Mel Knox]

Yikes!

[David Patte]

Wow. Nice to see that Luisa will continue in her role directing wine making and viticulture!

Yes, thanks for mentioned the micro-brewing. I loved hanging out at the old Bridgeport spot (before the renovation). So sad to see that close a few years ago....

[Rick Allen]

Great news for the Ponzis and the WV! I remember buying their white table wine by the case back in the late 70s, and the first case of wine that I ever bought to age was their 1979 Pinot Noir.

[Brian Curtis]

Somehow I never realized that the Ponzis started Bridgeport. We lived in Portland for a few years in the late eighties. Of course I remember the winery from that time period but I was also into home brewing and I have a very fond memory of a seminar where we followed along with the brewing of a batch of stout at Bridgeport.

[Thomas Keim]

Great news for the Ponzis and the WV! I remember buying their white table wine by the case back in the late 70s, and the first case of wine that I ever bought to age was their 1979 Pinot Noir.

I started with their 1980 Reserve Pinot Noir, and by the time the raging '83s hit - I was a major fan. Dick's daughter was pretty heavily involved, wonder what she is going to do?

[R M Kriete]

Well, that's one way to avoid tariffs

[Todd Hamina]

Solid and beneficial move. Congratulations all around!

[Jim Anderson]

Be curious as to the amount of dough involved.

I do have a story that I likely should not tell in public that would be related, tangentially, to this.

Seems to be a different sort of reaction to this than when KJ buys stuff up here. Just saying.

[Rodrigo B]

Seems to be a different sort of reaction to this than when KJ buys stuff up here. Just saying.

I think it comes down to who the acquirer is and what their track record is in managing the wineries they acquire going forward. Things like the overall reputation of the acquirer, if the winemakers and other staff staying on, is pricing going to change, are the wines going to be produced in same manner, will wine quality go down in favour of larger volumes, etc all play into how someone reacts to a winery being sold.

[Vincent Fritzsche]

I think Bollinger does a lot more for the local brand than KJ, that's got to be at least part of it Jim.

[Cris Whetstone]

Headlines I never would have thought up.

Has Bollinger bought other wineries previously? I don't really see the angle here beyond investment.

[Hal Blumberg]

Will Bollinger be making sparkling wines in Oregon? Can't see why not.

[Keith A k e r s]

Seems to be a different sort of reaction to this than when KJ buys stuff up here. Just saying.

Gallo would've gotten an awful reaction as well. But, we haven't really seen Bolly disrespect a brand that they have purchased (that I can think of). So, the lack of vitriol makes sense.

That said, I do hope when a 6L is sabered that they don't treat it like that idiot at the French Laundry

[lleichtman]

Be curious as to the amount of dough involved.

I do have a story that I likely should not tell in public that would be related, tangentially, to this.

Seems to be a different sort of reaction to this than when KJ buys stuff up here. Just saying.

Didn't KJ buy up a bunch of vineyards in 2019?

[Todd Hamina]

I think Bollinger does a lot more for the local brand than KJ, that's got to be at least part of it Jim.

KJ is a big plus for our little town of McMinnville. Locals are positive about it.

Wine folk are snobs, so it makes sense they view the French attributes with more panache.

[Saul Mutchnick]

It's interesting... the fact that it's Bollinger is definitely eye-catching, and probably adds to a bit of glamour to the valley as a whole, but the list of wineries they own/run is not exactly awe-inspiring. Delamain (the Cognac producer) is definitely the crown jewel of their operations, and they were established as one of the top houses in the region long, long before Bollinger bought them in '17.

Good on the Ponzi's for getting the deal they wanted (I assume), but count me as mildly skeptical about what SJB will bring to the table.

[Ken Strauss]

Star status for Oregon!
Congratulations

[Anton D]

Will Bollinger be making sparkling wines in Oregon? Can't see why not.

That would be cool.

[Marcus Goodfellow]

Will Bollinger be making sparkling wines in Oregon? Can't see why not.

That would be cool.

Agreed. The sparkling scene here is burgeoning, and there are some really solid bubbles being produced.

That said, someone that I respect quite a bit has stated the upcoming Grand Moraine(KJ) sparkling is amazing.

I haven’t had the Grand Moraine bubbles, but their winemaker is making some very good wines.

[D@vid Bu3ker]

Star status for Oregon!

Huh?

[Marshall Manning]

Star status for Oregon!
Congratulations

We already have Drouhin, Jadot, Meo, Goodfellow, Hamina, Anderson and Fritzsche.

[Ken Strauss]

Star status for Oregon!
Congratulations

We already have Drouhin, Jadot, Meo, Goodfellow, Hamina, Anderson and Fritzsche.

The more the merrier!
I love Oregon wines!

[Ken Strauss]

Star status for Oregon!

Huh?

｣

Not really hard to understand.
Just more confirmation of great wines and great future potential.

[D@vid Bu3ker]

Star status for Oregon!

Huh?

｣

Not really hard to understand.
Just more confirmation of great wines and great future potential.

They already had major French investment. Bolly isn’t some new status for them.

[Ken Strauss]

Huh?

｣

Not really hard to understand.u
Just more confirmation of great wines and great future potential.

They already had major French investment. Bolly isn’t some new status for them.

Any new investment is news!
That is why the post was made!

[Mattstolz]

Star status for Oregon!
Congratulations

We already have Drouhin, Jadot, Meo, Goodfellow, Hamina, Anderson and Fritzsche.

I actually didnt know about Jadot! What winery are they involved with?

[D@vid Bu3ker]

Star status for Oregon!
Congratulations

We already have Drouhin, Jadot, Meo, Goodfellow, Hamina, Anderson and Fritzsche.

I actually didnt know about Jadot! What winery are they involved with?

Resonance

[Marshall Manning]

I actually didnt know about Jadot! What winery are they involved with?

Resonance. I think they bought it about 8-10 years ago?

[Todd Hamina]

So, who buys Eyrie?

The two Dick's and two Dave's show only has one member left who hasn't sold (Adelsheim, Erath, Ponzi).

[G. D y e r]

I think Bollinger does a lot more for the local brand than KJ, that's got to be at least part of it Jim.

KJ is a big plus for our little town of McMinnville. Locals are positive about it.

Wine folk are snobs, so it makes sense they view the French attributes with more panache.

Of the larger winery groups, KJ strikes me as one of the more quality oriented, less 'race to the bottom' minded of the group. I don't explicitly seek out KJ wines, but generally I've found quality lines up reasonably with their pricing. Within Santa Barbara County, they've acquired respected brands and have well-positioned vineyards in generally cooler areas of the AVA (though I have no knowledge of their vinicultural practices).

Of course they have their mass market Chardonnay and the like, but I don't perceive outright cynical behavior in their premium lineups like planting Pinot far inland in hot climates or making Meomi-style red wine then calling it Pinot.

[R Roberts]

I'm not ITB, but in tech its the minority that can make M&A make 1+1=3. For those involved, I hope that's the case.

And for a bit of brevity, here's a photo I took at Bridgeport, back when smoking indoors was allowed:

bp.jpeg

[Rodrigo B]

So, who buys Eyrie?

The two Dick's and two Dave's show only has one member left who hasn't sold (Adelsheim, Erath, Ponzi).

Succession planning is a complex thing and take a lot of time to develop and transition, regardless of it’s a keeping it in the family or a sale. I’d be surprised if the Letts aren’t working on their succession planning already. Though I reckon we’re still a few years away from seeing that materialise. Jason’s still fairly young, low-50s I think? So I imagine that unless circumstances change, he’ll continue doing what he’s been doing since 2005. What happens then likely depend on what the succession outlook is like for the Letts.

I’d imagine, and hope, that they’d go somewhat along the likes of Ponzi or Williams Selyem, where, if they sell, it’s to a wine family with a long history of creating and maintaining brands. But given Eyrie’s historical significant in Oregon, bigger brands might be willing to pay a lot more, and sometimes that’s a hard factor to overlook if you’re selling your business.

SevenFifty Daily wrote an interesting article on how some Sonoma wineries are tackling succession planning a while back. Was interesting to see the different approaches.

[Marcus Goodfellow]

Star status for Oregon!
Congratulations

We already have Drouhin, Jadot, Meo, Goodfellow, Hamina, Anderson and Fritzsche.

As in, having made wine in the same facility with Todd, I think we’re pretty real and he’s funny as hell...but neither of us likes anyone else to do our punchdowns, so it’s always more sweat than “star”.

[Marcus Goodfellow]

So, who buys Eyrie?

The two Dick's and two Dave's show only has one member left who hasn't sold (Adelsheim, Erath, Ponzi).

Succession planning is a complex thing and take a lot of time to develop and transition, regardless of it’s a keeping it in the family or a sale. I’d be surprised if the Letts aren’t working on their succession planning already. Though I reckon we’re still a few years away from seeing that materialise. Jason’s still fairly young, low-50s I think? So I imagine that unless circumstances change, he’ll continue doing what he’s been doing since 2005. What happens then likely depend on what the succession outlook is like for the Letts.

I’d imagine, and hope, that they’d go somewhat along the likes of Ponzi or Williams Selyem, where, if they sell, it’s to a wine family with a long history of creating and maintaining brands. But given Eyrie’s historical significant in Oregon, bigger brands might be willing to pay a lot more, and sometimes that’s a hard factor to overlook if you’re selling your business.

SevenFifty Daily wrote an interesting article on how some Sonoma wineries are tackling succession planning a while back. Was interesting to see the different approaches.

Well put, as always.

[Chris Seiber]

Bollinger has a bunch of investors, and it’s taking money from the first investors to buy the winery, then attracting new investors and using their money to pay a return to those original investors, and then getting still more investors ...

[Vincent Fritzsche]

That sounds like some kind scheme Chris, hmmm

[Rodrigo B]

Bollinger has a bunch of investors, and it’s taking money from the first investors to buy the winery, then attracting new investors and using their money to pay a return to those original investors, and then getting still more investors ...

As far as I’m aware, the Bollinger family remains the sole owners of Société Jacques Bollinger SA (SJB), the holding company that owns most of their assets.

I’m oversimplifying it a bit, but individual family members of the Bollinger family own shares in SJB (either directly or indirectly), and SJB in turn owns the operating assets: wineries, distributors, etc. SJB is the entity that purchased Ponzi.

As a holding company, SJB may borrow some money to conduct acquisitions, but in those case, those are almost exclusively done on the balance sheet of the acquired company.

[Jim Anderson]

Bollinger has a bunch of investors, and it’s taking money from the first investors to buy the winery, then attracting new investors and using their money to pay a return to those original investors, and then getting still more investors ...

As far as I’m aware, the Bollinger family remains the sole owners of Société Jacques Bollinger SA (SJB), the holding company that owns most of their assets.

I’m oversimplifying it a bit, but individual family members of the Bollinger family own shares in SJB (either directly or indirectly), and SJB in turn owns the operating assets: wineries, distributors, etc. SJB is the entity that purchased Ponzi.

As a holding company, SJB may borrow some money to conduct acquisitions, but in those case, those are almost exclusively done on the balance sheet of the acquired company.

I think you might want to re-read the post and the follow up post.

[Mike Evans]

I'm not ITB, but in tech its the minority that can make M&A make 1+1=3. For those involved, I hope that's the case.

And for a bit of brevity, here's a photo I took at Bridgeport, back when smoking indoors was allowed:

bp.jpeg

In my experience, it’s the rare M&A transaction where 1+1=2. I think I’ve seen more where 1+1=0.

[Rodrigo B]

Bollinger has a bunch of investors, and it’s taking money from the first investors to buy the winery, then attracting new investors and using their money to pay a return to those original investors, and then getting still more investors ...

As far as I’m aware, the Bollinger family remains the sole owners of Société Jacques Bollinger SA (SJB), the holding company that owns most of their assets.

I’m oversimplifying it a bit, but individual family members of the Bollinger family own shares in SJB (either directly or indirectly), and SJB in turn owns the operating assets: wineries, distributors, etc. SJB is the entity that purchased Ponzi.

As a holding company, SJB may borrow some money to conduct acquisitions, but in those case, those are almost exclusively done on the balance sheet of the acquired company.

I think you might want to re-read the post and the follow up post.

I'm probably missing something. Did I get something wrong? Or am I just completely misreading Chris’ post?

[Jim Anderson]

As far as I’m aware, the Bollinger family remains the sole owners of Société Jacques Bollinger SA (SJB), the holding company that owns most of their assets.

I’m oversimplifying it a bit, but individual family members of the Bollinger family own shares in SJB (either directly or indirectly), and SJB in turn owns the operating assets: wineries, distributors, etc. SJB is the entity that purchased Ponzi.

As a holding company, SJB may borrow some money to conduct acquisitions, but in those case, those are almost exclusively done on the balance sheet of the acquired company.

I think you might want to re-read the post and the follow up post.

I'm probably missing something. Did I get something wrong? Or am I just completely misreading Chris’ post?

Yeah. In a land where we cannot explain the joke I can’t point it out but perhaps you should look at the SCHEME-atics of how those two posts are built.

[Rodrigo B]

I think you might want to re-read the post and the follow up post.

I'm probably missing something. Did I get something wrong? Or am I just completely misreading Chris’ post?

Yeah. In a land where we cannot explain the joke I can’t point it out but perhaps you should look at the SCHEME-atics of how those two posts are built.

Well, that went well over my head.

[Todd Hamina]

I'm sure you're good at other things Rodrigo.

[Rodrigo B]

I'm sure you're good at other things Rodrigo.

Somehow your consolation makes me sound even more inept

[crickey]

Chris described a type of scheme that rhymes with Fonzie. And shares the winery name.

[Chris Seiber]

I'm sure you're good at other things Rodrigo.

Somehow your consolation makes me sound even more inept

You always got my Rodrigo Blankenship jokes at least!

[Brian Glas]

I heard that LVMH made a big offer for Biggio Hamina but when they saw Todd pull up in that E Class Mercedes the deal was off. I guess Bernard Arnault doesn't like German cars....

[Todd Hamina]

So close.