Sydney, Australia, 14 November 2016 – Accolade Wines and Lion, today have reached an
agreement for Accolade Wines to acquire Lion Australia’s premium wine business, Fine Wine
Partners (FWP). This acquisition is a further step in Accolade Wines strategy as the leading
provider of New World wine.
Fine Wine Partners is focussed on iconic, regionally distinct varietals in premium growing regions and brings together an enviable portfolio of pre-eminent wineries and brands.
Accolade Wines Deputy CEO, Michael East said: "Over the last 5 years, we have experienced significant growth and expanded our global footprint through the acquisition of Geyser Peak in the United States, Grant Burge Wines in Australia, Mud House in New Zealand and Vina Anakena in Chile.
"The acquisition of the FWP business and brands will strategically enhance Accolade Wines product leadership, complementing our current brand portfolio, while integrating seamlessly into our business model. An expanded premium offering responds to a shift in consumer preferences for quality wine, while allowing us to better meet the needs of our customers.”
The sale includes FWP’s six Australian fully-owned brands Petaluma, Croser, St Hallett, Knappstein, Stonier and Tatachilla, its four Australian wineries, including all plant and equipment, land and vineyards, inventory and the on-and-off-premise distribution network. The sale price and the specific terms and conditions are confidential.
"These brands, from Australia's most renowned wine regions, represent a very exciting acquisition for Accolade Wines as we further enhance our premium wine credentials and portfolio." said East.
A six month transition has been agreed to ensure an orderly change of ownership for all stakeholders.
ENDS
About Accolade Wines
Headquartered in Australia, Accolade Wines is the world's fifth largest wine company by volume, delivering approximately 38 million, 9 litre cases to over 140 countries
annually. Drawing on a proud heritage with the first grapes treaded in 1853 at Hardys winery, Accolade Wines has evolved into a global wine company with an extensive portfolio of quality wine brands. Accolade Wine’s vision is to be the world’s leading provider of New World wines and was the first wine company to have a footprint in all major New World regions. With three out of the top 10 wine brands in the UK, and two of the top ten in Australia, the company’s
Fine Wine Partners is focussed on iconic, regionally distinct varietals in premium growing regions and brings together an enviable portfolio of pre-eminent wineries and brands.
Accolade Wines Deputy CEO, Michael East said: "Over the last 5 years, we have experienced significant growth and expanded our global footprint through the acquisition of Geyser Peak in the United States, Grant Burge Wines in Australia, Mud House in New Zealand and Vina Anakena in Chile.
"The acquisition of the FWP business and brands will strategically enhance Accolade Wines product leadership, complementing our current brand portfolio, while integrating seamlessly into our business model. An expanded premium offering responds to a shift in consumer preferences for quality wine, while allowing us to better meet the needs of our customers.”
The sale includes FWP’s six Australian fully-owned brands Petaluma, Croser, St Hallett, Knappstein, Stonier and Tatachilla, its four Australian wineries, including all plant and equipment, land and vineyards, inventory and the on-and-off-premise distribution network. The sale price and the specific terms and conditions are confidential.
"These brands, from Australia's most renowned wine regions, represent a very exciting acquisition for Accolade Wines as we further enhance our premium wine credentials and portfolio." said East.
A six month transition has been agreed to ensure an orderly change of ownership for all stakeholders.
ENDS
About Accolade Wines
Headquartered in Australia, Accolade Wines is the world's fifth largest wine company by volume, delivering approximately 38 million, 9 litre cases to over 140 countries
annually. Drawing on a proud heritage with the first grapes treaded in 1853 at Hardys winery, Accolade Wines has evolved into a global wine company with an extensive portfolio of quality wine brands. Accolade Wine’s vision is to be the world’s leading provider of New World wines and was the first wine company to have a footprint in all major New World regions. With three out of the top 10 wine brands in the UK, and two of the top ten in Australia, the company’s
enviable portfolio is led by Hardys and includes Houghton, Grant Burge Wines and Banrock
Station (Australia), Waipara Hills and Mud House (New Zealand), Geyser Peak and Echo Falls
(United States), Kumala & Flagstone (South Africa), and Viña Anakena (Chile).
Contacts:
Georgia Lennon
Accolade Wines
Corporate Affairs and Communications Director (02) 8336-8294 / 0412 342 897 georgia.lennon@accolade-wines.com
Contacts:
Georgia Lennon
Accolade Wines
Corporate Affairs and Communications Director (02) 8336-8294 / 0412 342 897 georgia.lennon@accolade-wines.com
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