Houlihan Lokey Advises Frank Family Vineyards

Houlihan Lokey's Consumer, Food & Retail Group is pleased to announce that Frank Family Vineyards has been acquired by Treasury Wine Estates (TWE) for $315 million, representing approximately 13x EBITDA. The transaction closed on December 13, 2021.

Frank Family Vineyards, one of Napa Valley’s most iconic brands, was established in 1992 by former Disney Studios President Rich Frank. Today, Frank Family Vineyards produces an award-winning wine portfolio of more than 20 ultra-premium wines across three collections that are sold through separate global wholesale and direct-to-consumer channels. Frank Family Vineyards currently owns over 270 acres, with roughly 125 acres planted, across two vineyards in the Rutherford and Capell Valley AVAs of the Napa Valley. The company also operates a historic winery facility and a standalone tasting room on Larkmead Lane in Calistoga.

Treasury Wine Estates is one of the world’s largest premium wine companies. Listed on the Australian Securities Exchange, TWE’s Americas portfolio includes trusted brands such as Penfolds, 19 Crimes, Beaulieu Vineyard (BV), Beringer, Etude, Sterling Vintner's Collection, and Stags’ Leap.

Houlihan Lokey served as the exclusive financial advisor to Frank Family Vineyards and assisted in structuring and negotiating the transaction on the company’s behalf. This deal represents another landmark transaction for Houlihan Lokey in the wine industry, having also recently advised Far Niente Wine Estates in its sale to GI Partners, Heitz Cellar in its sale to Gaylon Lawrence, and Duckhorn Wine Company in its acquisition of Kosta Browne Winery.