Altria to sell wine business for US$1.2B in renewed focus on tobacco

US – Altria Group, Inc., a leading producer of tobacco products, has announced that its subsidiary, UST LLC, has entered into a definitive agreement to sell its Ste. Michelle Wine Estates (Ste. Michelle) business to Sycamore Partners Management, L.P.  Ste. Michelle produces and markets premium wines sold under various labels, including Chateau Ste. Michelle, 14 Hands and Stag’s Leap Wine Cellars™, and imports and markets Antinori and Champagne Nicolas Feuillatte™ products in the United States.  Its new owner, Sycamore Partners Management, L.P., is a private equity firm specializing in consumer, retail, and distribution investments (Sycamore Partners).  According to…

Read More