How the Pandemic has Impacted the Wine M&A Landscape

Dear Client:   COVID-19 has impacted pretty much everything this year, including M&A activity. A panel at the recent Wine Industry Financial Symposium discussed how they're thinking about M&A in the current environment. HOW DO YOU APPROACH VALUATION? The question that always pops up for any panel discussing M&A, regardless of a pandemic, is: how do you approach valuation? Almost always, the answer is: it varies.  It's a "fundamental question," said Robert Nicholson, founder and principal of International Wine Associations.