"We believe Ste. Michelle Wine Estates' outstanding portfolio of iconic wine brands have tremendous potential for continued growth and success," said Stefan Kaluzny, Managing Director of Sycamore Partners. "We look forward to working with the team at Ste. Michelle Wine Estates to build on its position as the largest wine company in the Pacific Northwest and third-largest premium wine company in the U.S."
"We are thrilled to partner with Sycamore in this exciting new chapter for our team, as we move forward as an independent, privately held company," said David Dearie, Ste. Michelle Wine Estates' Chief Executive Officer. "With the benefit of Sycamore's support and expertise, we will be well-positioned to continue to draw on our rich heritage to provide our customers with exceptional wines from the world's premier regions and legendary wine producers."
Kirkland & Ellis LLP served as legal advisor to Sycamore Partners.
About Ste. Michelle Wine Estates
Ste. Michelle Wine Estates is the largest wine company in the Pacific Northwest and the third-largest premium wine company in the United States. With a distinguished history that dates to 1934, the company now farms more than 30,000 acres across Washington, Oregon, and California and distributes its wines in over 100 countries. Ste. Michelle Wine Estates pioneered vinifera winegrowing in Washington and remains the driving force behind viticulture and enology research in the state, including the establishment of the Washington State University viticulture and enology program and the construction of the university's research and teaching winery, now named the Ste. Michelle Wine Estates WSU Wine Science Center.
The Ste. Michelle Wine Estates portfolio includes Chateau Ste. Michelle, 14 Hands, Columbia Crest, Intrinsic, Erath, Patz & Hall, Borne of Fire, Northstar, and Spring Valley Vineyard, along with several other premium brands. The company also has partnerships with Marchesi Antinori (Stag's Leap Wine Cellars and Col Solare), Dr. Loosen (Eroica), and Michel Gassier and Philippe Cambie (Tenet). Ste. Michelle Wine Estates serves as the exclusive U.S. importer for Marchesi Antinori and Champagne Nicolas Feuillatte. For more information, please visit www.smwe.com.
About Sycamore Partners
Sycamore Partners is a private equity firm based in New York. The firm specializes in consumer, distribution and retail-related investments and partners with management teams to improve the operating profitability and strategic value of their business. With approximately $10 billion in aggregate committed capital raised since its inception in 2011, Sycamore Partners' investors include leading endowments, financial institutions, family offices, pension plans and sovereign wealth funds. For more information on Sycamore Partners, visit www.sycamorepartners.com.
Contact for Sycamore Partners
Michael Freitag or Arielle Rothstein
Joele Frank, Wilkinson Brimmer Katcher
SOURCE Sycamore Partners