Washington state’s Ste. Michelle Wine Estates was sold by corporate parent Altria to New York-based private equity firm Sycamore Partners for $1.2 billion. The deal is expected to close in the second half of the year. Ste. Michelle Wine Estates accounts for 60% of the state’s wine sales by volume. The self-described third-largest wine company farms approximately 30,000 acres across Washington, Oregon and California wine regions. Brands include Chateau Ste. Michelle, 14 Hands, Columbia Crest, Erath, Intrinsic and Patz & Hall. Founded in 1967, Ste. Michelle grew to be a publicly traded NYSE company and acquired brands Oregon’s Erath, Stag’s Leap and Patz & Hall in California in the last decade.