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Announced

Completed

Sycamore Partners completed the acquisition of Ste. Michelle Wine Estates from Altria Group for $1.2bn.

Financials

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Transaction Value£868m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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winery

wine production

Domestic

Private Equity

Single Bidder

Acquisition

Distillers and Vintners

Majority

United States

Private

Friendly

Completed

Synopsis

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Sycamore Partners, a private equity firm, completed the acquisition of Ste. Michelle Wine Estates, a wine producer, from Altria Group, a tobacco company, for $1.2bn. “We believe the Transaction is an important step in Altria’s value creation for shareholders and allows our management team greater focus on the pursuit of our Vision to responsibly transition adult smokers to a non-combustible future. Ste. Michelle and its talented employees have built an outstanding portfolio of premium wine brands, and we wish them future success," Billy Gifford, Altria CEO.

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