Announced in December 2010, the acquisition from Constellation Brands Inc is valued at approximately A$290m.
Accolade Wines has a comprehensive portfolio of global brands covering a diverse range of styles and price points. Its well known brands include, in Australia, Hardys, Houghton, Banrock Station, Berri, Stanley and Omni; in South Africa, Kumala and Fish Hoek; and Echo Falls from the USA. Accolade Wines also holds a 50% interest in one of the largest UK alcoholic beverage wholesalers, Matthew Clark.
Champ managing director, John Haddock, said: “Champ is in the business of identifying growth companies for investment by its funds. It has a demonstrated track record of achieving sustainable earnings growth in its funds’ portfolio companies. We are known for supporting the capital requirements of the portfolio businesses and for backing outstanding management.
“I think everyone knows there are a number of challenges facing the wine industry but it’s an important industry and we will be enthusiastic advocates for it.
“We see Accolade Wines as a company with strong fundamentals, a sound competitive position, a capacity to grow and an opportunity to re-invigorate its brands.”
Source: Champ
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