Based in Turner, Oregon, Willamette Valley Vineyards, Inc. produces and sells wines in the U.S. and globally. The Company is headquartered at its Estate Vineyard in Turner, Oregon, near Salem. In 1983, Founder and Winegrower, Mr. Jim Bernau, bought the Estate site. The winery sources all its barrel-aged Pinot Noir from its estate-grown vineyards and farms almost 500 acres in the valley. Willamette Valley Vineyards markets and sells its wines by way of direct sales at the Winery; directly via mailing lists; and through distributors and wine brokers.
The Company, has collaboratively grown its estate vineyards via partnerships. These include the merger with Oregon wine industry pioneer, Mr. Bill Fuller of Tualatin Vineyards (founded in 1973); the O’Briens for Elton Vineyard (founded in 1983); and Loeza Vineyard (planted in 2015).
Willamette Valley Vineyards practices environmentally sustainable farming. The Company was part of the founding of the Low Input Viticulture and Enology Program (LIVE). With its roots in the Pacific Northwest, LIVE supports environmentally and socially responsible winegrowing through third-party certification and education. LIVE’s standard is globally accredited.
Willamette Valley Vineyards ferments and barrels each vineyard lot separately. It displays the best of these in its single vineyard designate bottlings. The Company’s products include Pinot Noir, including its 2014 Estate Pinot Noir; Whites, including its 2015 Estate Chardonnay; and Griffin Creek, including its 2013 Griffin Creek Cabernet Franc.
The Company’s Estate Vineyard is south of Salem and is planted on an old west-to-southwest facing volcanic flow. The Estate vineyard has fifty acres of vines planted with the first Dijon clones grafted in 1993. It is mainly planted with Pinot Noir Dijon clones 667, 777, Pommard and Wadenswil. Furthermore, a part is planted in Pinot Gris and Dijon Clone Chardonnay 76 and 96.
Established in 1973, Willamette Valley Vineyards’ Tualatin Estate Vineyard is one of the oldest and most respected vineyard sites in Oregon’s Willamette Valley. This vineyard is 145 acres. Tualatin Estate Vineyard is the only vineyard to have won the Best of Show for the red and white categories at the London International Wine Competition in the same year.
The Elton Vineyard in Salem is situated in the Eola-Amity Hills American Viticultural Area (Eola-Amity Sub-AVA). Dick and Betty O’Brien own Elton Vineyard. Upon the O’Brien’s retirement in 2007, the vineyard was contracted under a long-term lease to Willamette Valley Vineyards. The vineyard includes 60 acres. Most of the vineyard is planted in Pinot Noir. This includes Pommard, Wadensville, 115, 777, and 114 clones. In addition, Elton Vineyard includes Dijon Chardonnay, Pinot Gris, as well as a small amount of Grüner Veltliner grapes.
In November 2016, Willamette Valley Vineyards reported that it produced Income Applicable to Common Shareholders of $467,979, or $0.09 cents per share, for Q3 2016, up from $454,256, or $0.9 cents per share, for the corresponding year-ago period. This represents a $13,723 or 3.0 percent increase in Income Applicable to Common Shareholders versus Q3 2015.
Moreover, Willamette Valley Vineyards generated Revenues of $4,741,711 and $4,244,519 in Q3’s 2016 and 2015, respectively. This represents an increase of $497,192 or 11.7 percent. Furthermore, the Company’s Income from Operations was $994.303 and $746.745 for the Q3’s of 2016 and 2015, respectively. This represents an increase of $247,558 or 33.2 percent.
Also in November, Willamette Valley Vineyards declared a cash dividend of $.22 per share on its Series A Redeemable Preferred stock (WVVIP).