WOODLAND HILLS, Calif.--(BUSINESS WIRE)--According to analysts with Great American Group, Inc. (OTCBB: GAMR), the 2012 wine grape crop is expected to reach 3.7 million tons – which would tie the second-largest crop production ever in California and the Pacific Northwest while also providing some balance after two consecutive years of smaller-than-usual harvests.
“The news for U.S. off-premise sales was also good, growing 7 percent from a year ago to $354 million, with sales fueled by fast growth in the category of red blends/meritage wines, and a trend toward alternative package sizes”
Analysts say the output represents a 10 percent increase over the 2011 harvest and a significant increase over the roughly 3.1 million tons harvested in 2010.
In its latest Wine and Spirits Monitor, Great American Group reports that September sales of direct-to-consumer shipments increased 36 percent compared to the same month in 2011, representing $133 million in sales.
“The news for U.S. off-premise sales was also good, growing 7 percent from a year ago to $354 million, with sales fueled by fast growth in the category of red blends/meritage wines, and a trend toward alternative package sizes,” said Lester Friedman, CEO of Great American Group’s Advisory & Valuation Services Division.
Also, despite a disappointing 6.7 percent decline in September spirit sales, year-to-date sales volume in control states (18 states that have state monopoly over the wholesaling and/or retailing of alcoholic beverages) was up by 3.6 percent through the first nine months of 2012, according to the National Alcoholic Beverage Control Association. Margins have been and will continue to be affected by increased input costs due to the severe and extensive drought affecting U.S. agriculture.
For more information about industry trends in wine and spirits, download Great American Group’s newest quarterly Wine and Spirits Monitor at http://www.greatamerican.com/news_media/downloads/Nov_Wine_and_Spirits_Monitor.pdf.
As the largest wine valuation firm in the United States, Great American Group provides wine valuations and timely information on industry trends and analysis. Its analysts serve as a valuable resource for lenders who need to understand the ever-changing values in wine. For more information about appraisal services available through Great American Group, visit www.greatamerican.com.
About Great American Group, Inc. (OTCBB: GAMR)
Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. The company has in-depth experience within the retail, industrial, real estate, healthcare, energy and technology industries. The corporate headquarters is located in Woodland Hills, Calif. with additional offices in Atlanta, Boston, Charlotte, N.C., Chicago, Dallas, New York, San Francisco and London. For more information, call (818) 884-3737 or visit www.greatamerican.com.