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The American tobacco company Altria is selling the American Ste. Michelle Wine Estates group in Washington State for 1.2 billion dollars to the New York private equity investor Sycamore Partners. The company owns Chateau Ste. Michelle in Woodinville, the oldest winery in Washington State, which accounts for about 60 percent of the state's total wine production, as well as several wineries in Washington, Oregon and California. Among them is the top producer Stag's Leap. In total, the farms cultivate around 12,140 hectares of vineyards, making the company the third-largest producer in the USA by its own account. There are joint ventures with Antinori, Dr Loosen and Michel Gassier; the company is also responsible for marketing Antinori and Champagne Nicolas Feuillatte in the USA.
Press spokesman Ryan Pennington told The Seattle Times that the new owners had assured that the 800-strong workforce would have "no worries about their jobs or benefits". The wine group had reported a two million dollar drop in sales in 2020. Ste. Michelle Wine Estate CEO David Dearie added that the company was "well positioned to drive a period of growth".
(ru / Source: Drinksbusiness; Photo: wikimedia)