BMO Establishes new U.S. Wine Industry Partnership, Enhancing Offering for Wine and Spirits Industry
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BMO partners with industry experts WineBusiness and bw166 to help clients anticipate and innovate to adapt to change in U.S. wine industry
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The U.S. Wine Industry Partnership will examine the transforming B2B wine market and provide data-driven insights on how wineries can maintain and increase their market share
NAPA, December 18, 2023 – BMO, a leading lending-partner to U.S. wineries, has formed the U.S. Wine Industry Partnership in collaboration with business intelligence firm WineBusiness and bw166, a top market research firm focused on the wine industry. The U.S. Wine Industry Partnership will produce a comprehensive industry report based on a survey that will gather insights from thousands of wineries across the U.S. as well as expert analysis of business trends and developments driving the U.S. wine market. BMO’s U.S. Wine Industry Partnership will be a leading resource for insights to help wine businesses understand, anticipate, and adapt to changing consumer preferences and consumption habits.
In addition to the industry research, bw166 will contribute a wealth of current and historic data on U.S. wine production, consumption, sales, consumer demographics and more that will be bolstered by BMO’s industry leading expertise and position as the eighth largest bank in North America by assets.
The newly created U.S. Wine Industry Partnership is comprised of BMO, renowned industry analyst Jon Moramarco and his market research firm bw166, and one of the industry’s leading media firms, WineBusiness. Set for release in the second quarter of 2024, the 2024 BMO Wine Market Report will stand alone as a thorough examination of the modern and dynamic B2B U.S. wine market, which is the largest and most competitive wine market in the world.
“The wine industry is undergoing transformative change and BMO’s experts are working with owners and operators to help them anticipate, innovate and emerge stronger than ever,” said Adam Beak, Managing Director and Head, Wine and Spirits, BMO. “BMO’s deeply researched report will provide expert insight and analysis on emerging trends shaping the industry, help our clients grow market share and make progress on their financial goals.”
About the U.S. Wine Industry Partnership
The U.S. Wine Industry Partnership has joined together to report on the state of the U.S. wine industry to help wine businesses understand factors shaping the outlook for the industry. The inaugural 2024 BMO Wine Market Report explores business trends and key developments driving the U.S. wine market, helping wine businesses assess changing consumer preferences and consumption habits, now and in the future. From grapes to the glass, this proprietary report, based on exclusive survey findings, objectively analyzes the most recent market data across all wine segments.
About BMO’s Wine & Spirits Group
BMO’s Napa, California-based Wine & Spirits Group has served the industry for decades. That’s why our dedicated team understands the factors that impact the entire ecosystem, from wineries, vineyards and distilleries to key support industries such as distributors, cork and capsule producers, barrel coopers, and harvesting equipment manufacturers. We know how industry and economic dynamics such as consolidation, commodity price fluctuations and changing consumer tastes can affect your business, and our seasoned professionals can offer guidance you need to help you navigate industry cycles. You’ll get the full scope of our capabilities, from managing your cash flow to acquiring real estate or executing an expansion. And with the experts of BMO Capital Markets at our disposal, we provide financing for mergers and acquisitions. BMO Commercial Bank also serves the needs of the entire food and beverage continuum, including beverage processors, suppliers and manufacturers.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.3 trillion as of October 31, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
About bw166
BW166 LLC provides advisory services and data intelligence to the beverage alcohol industry. The company is also a partner in the Gomberg Fredrikson Report. The Gomberg Fredrikson report has been reporting on the US Wine Market since 1948. BW166 also produces the Total Beverage Alcohol Report that provides data across Beer, Wine, and Spirits. Both reports use government tax paid data for volume reporting which is the most complete view of the US market. In addition, the company uses data from other government entities such as the Bureau of Economic Analysis, Bureau of Labor Statistics, and the Census Department to add macro information on economics and demographics regarding the Beverage Alcohol Market.
About WineBusiness
WineBusiness Analytics maintains the wine industry’s most accurate databases and provides data-driven analysis, data, insights and reports to help clients grow and manage their businesses. In addition to databases, the analytics group also publishes the monthly Wine Analytics Report. WineBusiness Analytics is part of the WineBusiness company that publishes the leading B2B magazine for the wine industry, Wine Business Monthly, maintains the industry’s No. 1 jobs board at winejobs.com, is the leading source of daily wine news at winebusiness.com and hosts several conferences and tradeshows.
