I sold Ste. Michelle in WA for 16 years, and watched them push WA wine helping so many other brands get some recognition and helping propel the premium wine story in WA. Saw a lot of great concerts at the Chateau, had a lot of great tastings, events, and meetings there too. This won’t impact the quality of what they produce, so good news there, I had so many good times out there this was sad to read. Really was a great destination.
If it does get sold, hopefully the WA Wine Commission and others will get the Chateau itself protected as a historic monument in WA so it doesn’t all get bulldozed and turned into a Google campus and we lose a big part of the history and heritage of WA wine.
Hurt to hear about this late Monday, frankly I was shocked, and good to see Sean getting it out there.
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In 2021, Ste Michelle was purchased by Sycamore Partners, a New York-based private equity firm, for a reported $1.3B. While the company indicated at the time its intent to invest and grow the business, a commitment that is believed to remain, the sale brought much handwringing in the industry that the company and the “string of pearls” that former CEO Ted Baseler helped create might be sold for parts and quick financial gain. Baseler retired in 2018 after 34 years at the company, including 17 as president and CEO. The company has had two CEOs since.
A few years ago, the Belk family decided to sell their souls to Sycamore.
The Belk brand quickly degenerated into little more than Family Dollar.
No one goes there anymore; it’s a slum now.
If you see the name “Sycamore” on anything, then turn around and RUN AWAY.
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