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  /  News   /  Market Extra: Why Wall Street is pouring into the wine business

Market Extra: Why Wall Street is pouring into the wine business

Sycamore Partners, a New York-based $10 billion private-equity giant, has been known for turning high-profile bets on clothing chains and shoe stores into a fortune.

Now it’s splurging on wine, with its $1.2 billion purchase of Washington state-based Ste. Michelle Wine Estates, the company behind Chateau Ste. Michelle, Erath, Stags Leap and other premium brands, in a deal that closed Wednesday.

“It…

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