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Carlyle Group Agrees To Buy Australia's Accolade Wines

Published on Apr 9 2018 10:30 AM in Drinks tagged: Trending Posts / Accolade Wines / The Carlyle Group / CHAMP

Carlyle Group Agrees To Buy Australia's Accolade Wines

Global private equity firm The Carlyle Group has agreed to buy Australia's Accolade Wines for A$1 billion (US$770 million), Accolade's majority owner CHAMP Private Equity has announced.

CHAMP, which owns 80% of Accolade, maker of wine brands such as Hardy's and Petaluma, said in a statement that it and Constellation Brands, which owns the remaining 20%, agreed to sell their holdings to Carlyle.

CHAMP formed Accolade out of its purchase of Constellation's Australian brands for A$290 million in 2011. Carlyle and Constellation were not immediately available for comment.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition. 

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