Yahoo Finance WA’s largest winery selling another Eastern Washington asset. This one on Red Mountain
Ste. Michelle Wine Estates, Washington’s largest wine producer, has sold another Mid-Columbia asset.
The Woodinville-based wine giant announced it has entered a deal to sell its stake in Benton City’s Col Solare Winery to Tuscan winemaker Marchese Antinori, its 50-50 partner in the venture.
Terms were not disclosed. The deal is expected to close by the end of June.
Col Solare is the second major transaction involving Ste. Michelle’s massive winemaking portfolio in the region in less than a month.
In May, it confirmed it sold its 14 Hands Winery facility in Prosser to Horse Heaven Wine Co., a grape grower that is expanding its own winemaking operations. 14 Hands retains use of the Prosser tasting room.
Ste. Michelle moved 14 Hands production to its Columbia Crest winery near Paterson in 2023, when it canceled contracts for 40% of its grape buys amid a global wine glut and falling demand from consumers.
Antinori previously purchased Ste. Michelle’s stake in Stag’s Leap Wine Cellars in Napa Valley, Calif. in 2023.
Longtime partners
The two wineries have collaborated for three decades.
They teamed up to launch Col Solare, which debuted with its first vintage in 1995. It developed a 29-acre vineyard and winery in the Red Mountain AVA in 2006 to focus on cabernet sauvignon.
Piero Antinore said the family remains fascinated by the “unique terroir” of the Red Mountain AVA or American Viticultural Area. An AVA is a defined geographic area recognized for highly local growing conditions.
“It’s an ongoing and exciting challenge for us to make Washington red wines distinctive and renowned for their high quality,” he said in a news release.
Shawn Conway, Ste. Michelle’s CEO, praised Antinori’s ongoing commitment
“The fact that the Antinori family wants to grow their investment and commitment in Col Solare is a testament to the world-class quality, prestige and bright future of the Washington wine industry,” he said.
Wine Spectator estimates Col Solare produces about 5,000 cases annually.
Ste. Michelle Wine Estates has been owned by Sycamore Partners, a New York private equity firm since 2021.
In addition to 14 Hands and Columbia Crest, its portfolio includes its namesake Chateau Ste. Michelle, Spring Valley Vineyard and Northstar in Washington, A to Z, Erath and Rex Hill in Oregon, and Champagne Nicholas Feullatte in France.
Go to smwe.com.
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