Carlyle managing director David Bluff says there is significant growth potential for Accolade in major wine markets in the Asian region.
Accolade has a portfolio of prominent brands that includes St Hallett, Petaluma, and Banrock Station and is a major producer of cask wines.
“With our expertise in the consumer sector and access to a global network, we look forward to working with the management team to support the company’s Asia growth strategy and the continued development of its business,” Bluff said.
Accolade, based in South Australia, is the largest winemaker in Australia and the world’s fifth-largest by volume, delivering about 35 million cases to more than 140 countries annually.
Former Murray Goulburn chief executive Ari Mervis has been appointed executive chairman of Accolade Wines, a role he will step into in August.
Carlyle has been active in Australia in recent years, including buying Sydney-based iNova Pharmaceuticals in September and selling its stake in Coates Hire to Seven Group in October.
The firm said as of the end of March, it has invested more than $US2 billion ($A2.6 billion) of equity in 10 transactions in Australia over the years.
Accolade’s full Australian portfolio. Image: accolade-wines.com
Local News Matters
Media diversity is under threat in Australia – nowhere more so than in South Australia. The state needs more than one voice to guide it forward and you can help with a donation of any size to InDaily. Your contribution goes directly to helping our journalists uncover the facts. Please click below to help InDaily continue to uncover the facts.