Report: Ste. Michelle Owner Sycamore Could Offload Stag’s Leap Wine CellarsNovember 12, 2021
Fresh off of closing its $1.2 billion deal for Ste Michelle Wine Estates, New York-based Sycamore Partners is rumored to be considering selling one of the company’s California wineries. Bloomberg cited unnamed sources with knowledge of the matter as saying Sycamore could seek to sell Napa Valley’s Stag’s Leap Wine Cellars from the Ste. Michelle portfolio for as much as $1 billion, with interest expected from both high net worth family offices and other private equity groups. Unless there are other holdings involved in such a sale, the price would seem a lofty one for Stag’s Leap on its own, which had volume of 111,000 cases in the U.S. last year, according to Impact Databank.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.