(NBBJ) - Big deals and big money. That may be what the public sees in the business of mergers and acquisitions in the wine industry.

But experts Wednesday delivered some practical advice for buyers and sellers — and some cautions.

Part of North Bay Business Journal’s Impact Napa event, the mergers and acquisitions panel was part of a program spanning a look at Napa Valley tourism and a one-on-one interview with wine industry icon Christian Moueix.

Moderated by Hal Forcey of Forcey Appraisals, the panel noted high grape and vineyard prices continue to fuel merger-and-acquisition activity though it remains a buyers’ market.

Dipping to a low of four to five deals annually in the recession years, domestic winery M&A activity has been on a roller coaster since 2011, with 27 in 2016 and about 14 so far this year, according to wine attorney Richard Mendelson.