Afternoon Brief, March 25th
There are More Merges and Acquisitions in Wine Than Ever Before—Here’s Why: In recent years, mergers and acquisitions in the wine industry have become increasingly common. During the latter half of 2020 through 2021, however, things progressed to a whole new level...
Afternoon Brief, October 1st
How Would a TTB Shutdown Affect You?: Not for the first time and probably not for the last, the federal government has narrowly averted a shutdown. Congress agreed on a short-term spending bill that will keep nonessential federal agencies funded though December 3, 2021...
Afternoon Brief, July 9th
Altria Reaches Agreement to Sell Its Ste. Michelle Wine Estates Business: Altria Group, Inc. (Altria) today announced that its subsidiary, UST LLC, has entered into a definitive agreement to sell its Ste. Michelle Wine Estates (Ste. Michelle) business to Sycamore Partners Management, L.P., a private equity firm specializing in consumer, retail, and distribution investments (Sycamore Partners), in an all-cash transaction with a purchase price of approximately $1.2 billion and the assumption of certain Ste. Michelle liabilities (Transaction)...