Bank of the West Commercial Banking Group Leads Financing for Acquisition of A to Z Wineworks by Ste. Michelle Wine Estates
BNP Paribas leads Sell-Side Advisory
San Francisco, CA
Bank of the West, part of BNP Paribas Group, today announced that it led the financing for the acquisition of A to Z Wineworks by Ste. Michelle Wine Estates, owned by private equity firm Sycamore Partners. BNP Paribas acted as the exclusive financial advisor to A to Z Wineworks and worked closely with Bank of the West on the deal.
A to Z Wineworks is one of Oregon's largest wineries and the world's first certified B Corp winery. Ste. Michelle is the leading winery in the Pacific Northwest. Some of its popular brands include Chateau Ste. Michelle, 14 Hands, Erath, and in California, Stags Leap.
"Bank of the West's approach to this deal proved why they are such a valuable partner for wine industry leaders," said David Dearie, CEO, Ste. Michelle Wine Estates. "The acquisition of A to Z Wineworks by Ste. Michelle Wine Estates gives us a substantial presence in Oregon and complements our roots in the Pacific Northwest. We believe there are exciting growth opportunities ahead of the combined business and we look forward to working with Bank of the West as we continue to scale."
"We've provided both financing and strategic guidance to A to Z Wineworks for over 15 years," said Adam Beak, Managing Director, Head of Beverage Vertical, Bank of the West. "It was particularly gratifying to facilitate the acquisition to another Bank of the West client. This deal is the result of a long and successful relationship."
Bank of the West is one of the nation's largest commercial lenders to the wine industry and brings in-depth experience and global connections. Bank of the West has led the financing for some of the industry's largest deals, including the $1.2-billion acquisition of Ste. Michelle Wine Estates by Sycamore Partners in 2021.
To learn more about Bank of the West's wine and agribusiness expertise, please visit: https://www.bankofthewest.com/commercial-banking.
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 Bank of the West
At Bank of the West, we know money deposited in a bank has the power to finance positive change. So we are taking action to ensure our activities help protect the planet, improve people's lives, and strengthen communities. We are redefining banking for a better future by focusing on areas where we believe we can have a real impact: supporting energy transition, helping enable women entrepreneurs, and financing innovative start-ups. As the bank for a changing world, Bank of the West is committed to sustainable finance along with our parent company BNP Paribas. Through Digital Channels and offices across the U.S., Bank of the West provides financial tools and resources to more than 2 million individuals, families and businesses.
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