US group acquires Australia’s Accolade Wines
The Carlyle Group says it sees ‘significant growth potential’ for Accolade in major wine markets, particularly in Asia.
Accolade Wines owns a portfolio of more than 50 brands – including Hardys, Grant Burge, St Hallett, Petaluma and Arras – and has two of the top 10 wines in Australia and three of the top 10 wine brands in the UK. Accolade has a presence in 20 of Australia’s premium wine regions in Western Australia, Victoria, South Australia and Tasmania; and employs 1,550 people globally.
It is Australia’s largest wine company by volume and the fifth largest globally, delivering 35 million cases to more than 140 countries every year.
Ari Mervis, former CEO of Murray Goulburn and previously Regional Managing Director for Asia Pacific of SABMiller, will take up the role of Executive Chairman in August 2018.
The Carlyle Group is a global alternative asset manager with $201bn USD of assets under management. In Australia it has invested more than $2bn USD of equity in 10 transactions. Last year it acquired iNova Pharmaceuticals, followed by the completion of the sale of its stake in Coates Hire to Seven Group
