Gimv participates in Paleo’s Series A of EUR 12m, a Belgian pioneer in the alternative protein market
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AgTech leader Kind Technologies attracts growth capital from Avedon to further develop its innovative offering. Avedon additionally acquires Gimv’s majority stake in the group.
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Glass Pharms announces partners in UK cultivation facility: KUBO to build a state-of-the-art greenhouse
Having secured up to £26.7M of funding from a FTSE-250 listed investment fund, Glass Pharms, the UK-based medical cannabis cultivation company, are delighted to announce a team of best-of-breed partners to complete their cultivation facility.
KUBO have been selected to deliver a state-of-the-art greenhouse for the Glass Pharms facility to ensure sophisticated control of climatic conditions and low energy consumption using its patented Ultra-Clima® system. The carbon negative facility will be powered entirely by renewable energy generated from food waste fed into an anaerobic digestion (AD) plant. Waste hot water from the AD plant will also be used for both heating and cooling.
The greenhouse will harvest and recycle rainwater and will represent a new benchmark for sustainable enclosed agriculture in the UK. Askam Civil Engineering, with specific sector expertise, will be providing the required civils and headhouse fitout for the facility. Glass Pharms have the first UK commercial licence granted by the Home Office to supply High-THC cannabis flower to lawful pharmaceutical companies, granted in 2021. Earlier this year it announced Richard Lewis, one of the UK’s most experienced glasshouse growers, as its managing director and will shortly announce its plant specific expert. “We will underpin a secure supply chain of affordable medical cannabis to UK patients without them having to compromise on freshness or quality, whilst at the same time making a real contribution towards the UK’s Net Zero targets,” said James Duckenfield, CEO of Glass Pharms.
UK Medical Cannabis Market
Medical Cannabis was legalised in the UK in November 2018 with an amendment of The Misuse of Drugs Regulations 2001, allowing the prescription of cannabis-based products for medicinal use (CBPMs) to UK patients.
KUBO has been active in the greenhouse industry for over 75 years. The company serves growers of fruits, vegetables, plants and flowers with high-tech greenhouses, including software support and services including training, data analysis, management and operational support. The company, with approximately 150 employees, has branches in Monster (the Netherlands), Montreal (Canada) and Shanghai (China). With a turnover of roughly €200 million and projects realised in 45 countries, including Canada, United States, Russia, China, Japan, South Korea, Australia and Oman, KUBO is a pioneer in its industry. The family owned company, founded in 1945, was awarded the number one position in the Hillenraad100: an annual ranking of the hundred most prominent businesses in the knowledge- and capital-intensive Dutch (greenhouse) horticultural industry cluster.
For more information on KUBO, contact NPM Capital, Stijn Jonker (jonker@npm-capital.com)
Sun Capital Affiliate Completes Acquisition of Fresh Origins
Market Leading Grower and Shipper of Microgreens and Edible Flowers for Foodservice and Retail Customers Across the United States
January 19, 2023 – Sun Capital Partners, Inc. (“Sun Capital”),a leading private investment firm focused on defensible businesses in growing markets with tangible performance improvement opportunities, today announced its affiliate has completed the acquisition of Fresh Origins (or the “Company”), a market leading grower and shipper of Microgreens and Edible Flowers for foodservice and retail customers across the United States. Terms of the private transaction were not disclosed.
Founded in 1996, Fresh Origins pioneered the Microgreens category and is known for having the widest product variety, exceptional quality and consistency, and most rigorous food safety standards in the industry. The Company offers over 600 varieties of Microgreens, Petite® Greens, Edible Flowers, Shoots, Tiny Veggies™, and other Specialty items, serving over 350 foodservice distributors, restaurants, and retailers across the United States. Fresh Origins’ San Marcos, California headquarters is ideal for natural sunlight growing with average annual temperatures between 50 and 85 degrees Fahrenheit and over 250 days of sunshine. The Company’s operations have over 2.4 million square feet of growing capacity across more than 45 greenhouses on 123 total acres.
Microgreens and Edible Flowers are small, edible versions of vegetables, herbs, and flowers that are harvested 1-2 weeks into the growing cycle. Seed to ship is typically 10 to 14 days. Microgreens and Edible Flowers are utilized by chefs and consumers to elevate the visual appearance of prepared dishes while also enhancing the flavor profile and materially improving nutritional density.
“We are excited about the opportunity to work closely with Fresh Origins’ CEO, Norma St. Amant, to continue to grow and enhance the business,” said Marc Leder, Co-CEO of Sun Capital. “Norma and Company management have built a great organization and we look forward to supporting the Company with our operational resources and extensive food industry expertise to help Fresh Origins expand its leadership position in the growing Microgreens and Edible Flowers market.”
“We are pleased to welcome Sun Capital as our new partner to help us capitalize on growth opportunities in our rapidly expanding market,” said St. Amant. “Sun’s experience, industry expertise, and resources will allow us to enhance our brand and continue to fulfill our commitment to delivering high quality products, market leading innovation, and world class service to our valued customers.”
“Fresh Origins is a leading specialty produce business in a rapidly growing, highly fragmented industry with tangible growth and performance improvement opportunities,” said Jonathan Jackson, Principal at Sun Capital. “We are excited to partner with Norma and the Fresh Origins leadership team to accelerate growth through continued foodservice penetration and retail adoption, as well as capitalize on performance improvement opportunities including facility automation and systems implementation.”
Sun Capital has extensive experience partnering with industry leading food businesses through current and prior investments, including Creekstone Farms Premium Beef, Del Monte Canada, Elan Nutrition, Fearman’s Pork, Harry’s Fresh Foods, Fresh-Pak, Northland Cranberries, Sunrise Growers-Frozsun Foods, and Timothy’s Coffees of the World.
Fresh Origins was advised on the transaction by Houlihan Lokey (advisory), FORVIS (financial), and Sidley Austin (legal). Sun Capital was advised on the transaction by EY (financial), EY-Parthenon (commercial), and Kirkland & Ellis (legal).
About Fresh Origins
Fresh Origins, headquartered in San Marcos, CA, is a market leading grower and shipper of Microgreens and Edible Flowers for foodservice and retail customers across the United States. Founded in 1996, Fresh Origins pioneered the Microgreens category and is known for having the widest product variety, exceptional quality and consistency, and most rigorous food safety standards in the industry. The Company offers over 600 varieties of Microgreens, Petite® Greens, Edible Flowers, Shoots, Tiny Veggies™, and other Specialty items, serving over 350 foodservice distributors, restaurants, and retailers.
Media Contact
Matthew Conroy
Stanton
646-502-3563
mconroy@stantonprm.com
Change in ownership: The largest shareholder of LTP Group, a company that has reshaped food logistics, is changing – the Company continues to target strong growth
LTP Group, which has achieved strong growth with Vaaka Partners over the past few years, is changing ownership. LTP Group has accomplished the goals set for the joint journey between its founder Matti Tuominen, and Vaaka Partners. A majority stake in LTP Group will be sold to Sponsor Capital. LTP management will continue as significant shareholders together with Sponsor also post transaction. The company will continue its rapid growth by carrying on with its mission of ensuring that the products from food producers of all sizes can make their way to dining tables across Finland. This is achieved by uniquely efficient logistics solutions that help conserve the environment and save money.
LTP Group’s joint journey with Vaaka Partners has been a success. Over a period of six years, the company has tripled its net sales and profitability. Net sales will exceed EUR 70 million this year. LTP Group, which currently employs over 450 people, targets high growth also going forward.
– “We have reshaped food logistics by consolidating many small flows of goods into a single large flow in a manner that no other operator has previously managed to execute successfully. It is a model that benefits everyone: producers, retailers, restaurants, consumers, and the environment. I am confident that this recipe will continue to create growth going forward, both for our customers and ourselves,” says Matti Tuominen, founder and CEO of LTP Group.
Giving small and medium-sized producers access to the national market
LTP Group’s primary competitive advantage lies in its unique solution for the picking and consolidation of foodstuff. Instead of each producer’s foodstuff taking a separate route to shops and restaurants, LTP Group collects products on a customer-specific basis and consolidates smaller flows of goods from multiple producers into boxes and truckloads based on the needs of shops and restaurants.
Another source of competitive advantage for LTP Group is its comprehensive nationwide distribution network, which covers shops, commercial kitchens and restaurants throughout Finland. LTP’s combination of these two competitive advantages create a unique and efficient food logistics solution.
– Our volume is large enough that our routes cover even the most remote towns. Our nationwide coverage and volumes enable us to serve small food producers along the way. This gives small and medium-sized food producers the opportunity to join a larger logistics chain and sell their products to the national market, which would, otherwise, be difficult or impossible for many of them,” Tuominen explains.
Shops and restaurants, in turn, gain access to a diverse range of products from various producers, consolidated in a single delivery according to their needs. This allows them to provide their respective customers with a wide product range that also includes specialty products. It is a solution that benefits all parties.
Efficient logistics reduces the burden on the environment
An efficient logistics solution that consolidates products from many players also reduces emissions. The same amount of goods can be transported more efficiently packed, using fewer vehicles and driving fewer kilometres.
– “With Vaaka Partners’ support, we have invested in automation and data-driven performance management. This has made us highly cost-conscious in terms of both environmental costs and financial costs,” Tuominen adds.
The change in the majority shareholder will not lead to any significant changes in the day-to-day business for LTP Group’s customers and partners. The company will continue to implement its proven recipe for growth, and the familiar day-to-day operations will remain unchanged.
The completion of the transaction is pending approval of the Finnish Competition and Consumer Authority.
For more information, please contact:
Matti Tuominen, CEO, LTP Group
tel. +358 40 503 5905, matti.tuominen@ltplogistics.fi
Tuomas Siponen, Partner, Vaaka Partners
tel. +358 50 571 3767, tuomas.siponen@vaakapartners.fi
Sami Heikkilä, Partner, Sponsor Capital
tel. +358 50 352 8905, sami.heikkila@sponsor.fi
LTP Group in brief:
LTP Group is a pioneer in food logistics that includes LTP Logistics Oy, which specialises in in-house logistics and customer-specific product picking; Lännen Teollisuuspalvelu, which specialises in Transbox washing and pallet services; and LTP Cargo Oy, which focuses on delivery operations. Together, the companies offer flexible and customisable logistics solutions that include picking, warehousing and transport services. LTP Group operates throughout Finland. The companies have over 450 employees and their combined net sales exceed EUR 70 million this year.
Vaaka Partners in brief:
Vaaka Partners is an ambitious private equity company that helps medium-sized Finnish companies to become business champions. Current Vaaka champions include Framery, AINS Group, Cloudpermit and Staria, among others. The company is responsible for over EUR 0.6 billion of private equity funds. Vaaka’s approach combines strategic and operational expertise with trust-based collaboration. The largest investors in Vaaka funds are Europe’s leading pension funds.
www.vaakapartners.fi
Sponsor Capital in brief:
Sponsor Capital is a Finnish private equity firm founded in 1997. The firm makes mainly majority investments in Finnish mid-sized companies that have an excellent management, stable market position and predictable cash flow. Sponsor Capital operates responsibly and long term as well as in a strongly goal-oriented mode and believing in management’s entrepreneurial spirit. Large Finnish institutions invest their capital through Sponsor Capital.
www.sponsor.fi
Hormel foods announces minority investment in GarudaFood
Hormel Foods Corporation (NYSE: HRL), a Fortune500 global branded food company, today announced it has acquired a minority stake in PT Garudafood Putra Putri Jaya Tbk (“Garudafood”), one of the largest food and beverage companies in Indonesia.
“This strategic investment enhances our partnership with Garudafood, which has been instrumental in helping us expand our business into Indonesia and Southeast Asia,” said Jim Snee, chairman of the board, president and chief executive officer at Hormel Foods.”Garudafood is a market leader, with strong and reputable brands, local expertise and a best-in-class distribution network. We look forward to accelerating our presence in these high-growth geographies and the snacking and entertaining category as we further leverage the strengths and capabilities of both companies.”
Garudafood’s branded portfolio includes many leading snacking products, such as Garuda peanut snacks, Gery biscuits and confectionary products, and Chocolatos wafer sticks.
This has been a successful partnership between the Soenjoto family, the strong management team at Garudafood and CVC.
Andy Purwohardono Partner, CVC
“We are very excited to continue expanding and strengthening our partnership with Hormel Foods to grow Garudafood’s business together in Indonesia,” said Hardianto Atmadja, president director of PT Garudafood Putra Putri Jaya Tbk. “Hormel Foods has more than 130 years of company history, so there are many things that we can learn from them. We also find that there are similarities in our company cultures and values, which are very important for a long-term partnership. There are some potential synergies and growth opportunities that we have identified, such as combining the strengths and expertise of Hormel Foods with our presence and local market knowledge.”
“This has been a successful partnership between the Soenjoto family, the strong management team at Garudafood and CVC,” said Andy Purwohardono, partner at CVC, which sold a significant portion of the shares acquired by Hormel Foods. “I would like to congratulate the leadership team for building resilience and growing the business profitably during the pandemic, as well as continuing its track record of launching new innovative products. Hormel Foods is the perfect partner for Garudafood, and I wish them a great success for the future.”
Hormel Foods purchased approximately 29% of the shares of Garudafood from CVC and other shareholders. The transaction closed during Indonesia Stock Exchange trading hours on Dec.15, 2022.
KKR BRINGS TOGETHER BETTCHER INDUSTRIES AND FRONTMATEC TO BUILD A GLOBAL LEADER IN PROTEIN PROCESSING AUTOMATION
NEW YORK – November 10, 2022 – KKR, a leading global investment firm, and Bettcher Industries (“Bettcher”), a KKR portfolio company, today announced that Bettcher has completed the acquisition of Frontmatec, a global manufacturer of end-to-end automated solutions for pork and beef processing with world-class robotics capabilities. Frontmatec will join Bettcher, a leading manufacturer of protein processing equipment, to form a global market leader in protein processing automation.
The acquisition of Frontmatec represents an important step in building a diversified, scaled platform of food processing automation technologies with best-in-class capabilities to serve customers globally. Frontmatec’s leading robotics, vision systems, intelligent software and other capabilities as well as its global footprint and strong presence in Europe, are highly strategic and complementary to Bettcher’s leading focus on semi-automated protein processing tools and automated poultry processing systems.
Dan Daniel, Executive Advisor at KKR and Chairman of Bettcher, said, “We are excited to establish and build a platform that brings together two great companies who share a common vision of solving their customers’ problems in the protein processing automation space. From a strategic standpoint, the acquisition will allow us to invest in even greater innovation that helps our customers achieve enhanced productivity, automation and worker safety on a global scale. We are excited to continue building on the platform from here.”
As part of a KKR-owned platform, Bettcher and Frontmatec will continue to operate independently under their existing brands and leadership teams. The companies expect to collaborate on sharing best practices and driving future innovation and product development. They will also explore further strategic acquisition opportunities, including bringing additional businesses with leading brands into the platform.
Frontmatec CEO, Allan Kristensen, said, “Bringing the strengths of our companies together will enable us to deliver special innovation to the market. Culturally, our two companies are a great fit as we share the same passion for customer focus, developing high-quality solutions that will meet the accelerating global demand for higher yields in production as well as improved food quality and worker/people safety.”
The employee engagement program established by KKR will be extended to all Fontmatec employees. A key pillar of the program is allowing all employees to take part in the benefits of ownership by granting them the opportunity to participate in any equity return alongside KKR.
KKR’s investments in Bettcher and Frontmatec were made through its North America Fund XIII.
About Frontmatec
Headquartered in Kolding, Denmark, Frontmatec is a leader in end-to-end automated solutions for the red meat processing industry. Frontmatec serves customers worldwide through its global manufacturing and service footprint, including many of the world’s largest red meat processors. It is a full-line supplier of processing equipment, parts and services, instruments as well as controls software, which help solve key issues pertaining to yield, health and safety, animal welfare, food quality and more. For more information, please visit https://www.frontmatec.com/en.
About Bettcher Industries
Headquartered in Birmingham, Ohio, Bettcher is a leading developer and manufacturer of innovative equipment in the food processing and medical device industries. The Bettcher portfolio includes the following: Bettcher, a designer and manufacturer of handheld trimmers, tools, and cutting consumables for all protein applications; Cantrell-Gainco, a manufacturer of processing equipment and yield enhancement and yield tracking systems for various protein operations; ICB Greenline, an aftermarket replacement parts and services company focused on poultry processing; and, Exsurco Medical, a leading-edge medical device company that provides innovative products and services to transform surgical grafting, debridement, and recovery outcomes for patients with burn and trauma wounds. For more information, please visit https://www.bettcher.com/en
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
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CVC Credit supports the acquisition of IRCA by Advent International
CVC Credit is pleased to announce that it has committed senior and acquisition facilities to support Advent International’s acquisition of IRCA, a leading Italian producer of specialty ingredients for artisanal pastries, cakes and gelato.
For over 100 years, IRCA has been supplying a broad portfolio of products to patisseries, gelato parlours, hotels, restaurants, and confectionery manufacturers. IRCA occupies a niche space in the industry as a result of its “one-stop-shop” strategy, providing simple, complete, and expert solutions for the preparation of products, which would otherwise be far more costly, time-consuming, and complex to produce. Headquartered in Italy, IRCA supports artisan chefs in over 100 countries and employs more than 1,000 people across seven production plants and four innovation and demonstration kitchens in Europe, North America and Asia.
IRCA’s track-record demonstrates the group’s ability at identifying and executing on opportunities in the sector, and with Advent’s guidance we expect the business to continue on its impressive growth trajectory.
John EmpsonPartner and Co-Head of Private Credit at CVC Credit
Alessio Di Vito, Director at CVC Credit said: “IRCA is the undisputed leading player in speciality ingredients in Italy. Its market position, achieved through investments in product innovation and geographic expansion, have enabled it to grow through market cycles, furthermore it is expected to continue to benefit from attractive market tailwinds due to growing demand of semi-finished ingredients solutions.”
John Empson, Partner and Co-Head of Private Credit at CVC Credit added: “IRCA’s track-record demonstrates the group’s ability at identifying and executing on opportunities in the sector, and with Advent’s guidance we expect the business to continue on its impressive growth trajectory. We look forward to utilising the expertise and resources of our collective network to support this further development over the coming years.”
Francesco Casiraghi, Managing Director at Advent International, commented: “We have identified IRCA as a structural winner in a sector with secular growth tailwinds. IRCA’s long-term growth track record comes from a consistent focus on understanding customer needs, creative innovation, and Italian excellence in high-quality food ingredients. We believe IRCA is perfectly placed for further expansion, reaching a growing number of chefs globally with increasingly innovative solutions. We are very excited to support the management team in the next phase of IRCA’s journey.”
IK Partners invests in Wishcard alongside EMZ Partners and Oakley Capital
IK Partners (“IK”) is pleased to announce that the IK Partnership Fund II has, as part of an investment consortium comprising EMZ Partners and Oakley Capital, acquired a minority stake in Wishcard Technologies Group (“Wishcard” or “the Company”). Founded in 2014 and headquartered in Germany, Wishcard is a leading gift and rewards platform operating in Germany, Austria, Switzerland and Italy, providing multi-brand vouchers for personal gifting and for businesses.
Founded in 2014 and headquartered in Brilon, Germany, the Company has grown to become the leading provider of business-to-consumer (“B2C”) multi-brand gift vouchers and business-to-business (“B2B”) gift cards in the DACH region. At present, Wishcard offers one of the largest brand selections on the market with a network of over 500 highly regarded redemption partners, including Amazon, Google, Apple, IKEA, and Zalando. The Company distributes its cards through various sales channels which include a network of more than 110,000 retail outlets and its own e-commerce store. It also sells directly to its sizeable B2B customer base.
IK and its co-investors will hold a minority stake and support Wishcard’s future growth by jointly focusing on expanding its service and product offering as well as pursuing further international expansion. The transaction enables both the founding and broader management teams to regain a majority position in the Company after a successful partnership with Oakley Capital. As part of the change in ownership, Dr Andreas Betzer will be established as the new CEO. He brings extensive expertise in the retail sector to the business alongside his experience in areas such as digitalisation.
Financial details of the transaction are not being disclosed.
Verena Argauer, COO of Wishcard, commented: “We are immensely proud of the development Wishcard has undergone in recent years and we have even more ambitious plans for the future. In this context, we are convinced that this consortium of experienced investors has the skills and know-how to support our continued international and portfolio expansion. We are very pleased to welcome IK, EMZ and Oakley Capital as our new long-term partners.”
Detlef Dinsel, Managing Partner at IK and Advisor to the IK Partnership Fund II, said: “With the help of Oakley Capital, the management team has successfully established Wishcard as the leading provider of personal and business gift cards in the DACH region. We expect the market to continue to grow at an attractive rate and look forward to working with our co-investors and new CEO Andreas Betzer to develop the Company’s international footprint with a sustainable product offering.”
For further questions, please contact:
IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com
Ste. Michelle Wine Estates acquires A to Z Wineworks
WOODINVILLE, Wash. (September 7, 2022) – Ste. Michelle Wine Estates (“Ste. Michelle”) has acquired A to Z Wineworks (“A to Z”), a top-selling winery in Oregon. This is the first strategic acquisition for Ste. Michelle Wine Estates under the ownership of private equity firm Sycamore Partners.
Together with Ste. Michelle’s Erath Winery, the addition of the A to Z and REX HILL brands gives Ste. Michelle a substantial presence in Oregon and the combined business will be a leading producer of the state’s signature variety, Pinot Noir.
“We are delighted to welcome A to Z to the Ste. Michelle family,” said David Dearie, President and CEO of Ste. Michelle Wine Estates. “Erath and A to Z share the same passion for producing high quality wines at fair prices, making A to Z a natural fit for Ste. Michelle. The future of Pacific Northwest wines – both Oregon and Washington – is bright and we’re excited to introduce new consumers across the country and around the world to the full complement of our region’s outstanding wines.”
Amy Prosenjak, President and CEO of A to Z, will join Ste. Michelle as President of Oregon Brands, overseeing the company’s combined operations in the state.
“I’ve long admired Ste. Michelle’s leadership in the Pacific Northwest and their decades-long commitment to promoting the region’s wines,” said Ms. Prosenjak. “Bill Hatcher, who is retiring as Chairman of the Board for A to Z, gave me the great gift of mentorship over the years. With such deep roots, I look forward to joining David and the Ste. Michelle Senior Leadership Team and together raising the bar even higher for Oregon and the Pacific Northwest.”
In addition to Ms. Prosenjak, A to Z Founding Partners Deb Hatcher, Cheryl Francis, and Sam Tannahill will join Ste. Michelle as consultants. A to Z’s Founding Partners started the company 20 years ago and have worked tirelessly to create the highest quality wine for the greatest sustainable value, a goal that remains the company’s guiding principle. In addition to developing into one of Oregon’s most iconic wineries, A to Z became a certified B Corp in 2014 in recognition of its positive environmental practices.
“We could not have found a better partner than Ste. Michelle to carry on the legacy of both A to Z and REX HILL,” said Ms. Hatcher. “They understand the Pacific Northwest better than anyone, and they know what it takes to promote an entire region on the global stage.”
“Ste. Michelle understands quality and production for both small and large wineries,” said Francis. “We are excited to work with Ste. Michelle to further Oregon’s hard-earned reputation for producing world-class wines.”
Added Tannahill, “Ste. Michelle has always taken a long-term view regarding grape-growing and winemaking, including their commitment to sustainability and their support for viticulture and enology research.”
BNP Paribas Securities Corp served as financial advisor to A to Z. Bank of the West is continuing as the lender to both Ste. Michelle and A to Z. Kirkland & Ellis acted as legal counsel for Ste. Michelle and Tonkon Torp supported A to Z.
Terms of the transaction were not disclosed.
About Ste. Michelle Wine Estates
Ste. Michelle Wine Estates is the largest winery in the Pacific Northwest and among the largest premium wineries in the United States. With a distinguished history that dates to 1934, the winery now farms more than 30,000 acres across Washington, Oregon, and California and distributes its wines in over 100 countries. Ste. Michelle Wine Estates pioneered vinifera winegrowing in Washington and remains the driving force behind viticulture and enology research in the state, including the establishment of the Washington State University viticulture and enology program and the construction of the university’s research and teaching winery, now named the Ste. Michelle Wine Estates WSU Wine Science Center.
Ste. Michelle traces its roots to shortly after the repeal of Prohibition, through the founding of The Pommerelle Company and the National Wine Company (NAWICO) in 1934 and 1935, respectively. Pommerelle and NAWICO merged in 1954 and became American Wine Growers. American Wine Growers first produced wines under the Ste. Michelle Vineyards label in 1967. Ste. Michelle first entered Oregon with the purchase of Erath in 2006.The Ste. Michelle Wine Estates portfolio includes Chateau Ste. Michelle, 14 Hands, Columbia Crest, Erath, A to Z, H3, Liquid Light, Intrinsic, REX HILL, Spring Valley Vineyard, Patz & Hall, and Northstar, along with several other premium brands. The winery also has partnerships with Marchesi Antinori (Stag’s Leap Wine Cellars and Col Solare), Ernst Loosen (Eroica), and Michel Gassier (Tenet). Ste. Michelle Wine Estates serves as the exclusive U.S. importer for Marchesi Antinori and Champagne Nicolas Feuillatte. For more information, please visit www.smwe.com.
About A to Z Wineworks
A to Z Wineworks captures “The Essence of Oregon” by carefully blending wines true to their variety exclusively sourced from vineyards strung through Oregon’s remarkable Western valleys. The company sets the standard for cool climate, food-friendly Oregon Pinot Noir, Pinot Gris, and Chardonnay. A to Z Wineworks is Oregon’s top-selling brand known for dependable, affordable quality. For more information visit www.atozwineworks.com.
About Sycamore Partners
Sycamore Partners is a private equity firm based in New York. The firm specializes in retail, consumer, and distribution-related investments and partners with management teams to improve the operating profitability and strategic value of their business. With approximately $10 billion in aggregate committed capital raised since its inception in 2011, Sycamore Partners’ investors include leading endowments, financial institutions, family offices, pension plans and sovereign wealth funds. For more information on Sycamore Partners, visit www.sycamorepartners.com.