Private Equity Firm Buys Ste. Michelle Wine Estates for $1.2 Billion

Dear Client:This morning Ste. Michelle Wine Estates' parent company, Altria, announced it is selling SMWE to private equity firm Sycamore Partners Management for a cool $1.2 billion - an all-cash transaction. SMWE is the third-largest premium wine company in the US and the largest in the Pacific Northwest. The company now farms nearly 30,000 acres across Washington, Oregon and California, and the portfolio includes Chateau Ste. Michelle, 14 Hands, Columbia Crest, Erath, Intrinsic, Patz & Hall and more. "The Ste. Michelle leadership