Photo courtesy of @chateaustemichelle on Instagram

Ste. Michelle Wine Estates announced today that Sycamore Partners, a New York-based private equity firm, will acquire the company for approximately $1.2 billion in cash. 

As the largest wine company in the Pacific Northwest and third-largest premium wine company in the United States, the acquisition of Ste. Michelle is a noteworthy investment in the future of the company’s wineries across Washington, Oregon, and California. The transaction is anticipated to close during the second half of 2021.

“The Ste. Michelle leadership team and I look forward to working with the team at Sycamore Partners and believe we are well-positioned to help drive the next phase of growth,” David Dearie, president and CEO of Ste. Michelle Wine Estates, said in a press release. “Their commitment to partnering with us is a tremendous vote of confidence in the team and our magnificent estates and brands.”