Ste Michelle

Multinational tobacco firm Altria Group Inc has announced that its subsidiary, UST LLC, has entered an agreement to sell the Ste Michelle Wine Estates business to Sycamore Partners Management, LP., a private equity firm specializing in consumer, retail, and distribution investments. According to sources, the sale will enable Altria to focus on their vision of transitioning adult smokes to a ‘non-combustible future’. Billy Gifford, Altria’s chief executive officer said: “Ste. …