Accolade has bought a premium Coonawarra winery in a bid to add to its high end portfolio.
Accolade Wines has snapped up a premium Coonawarra winery in a bid to secure more top shelf grapes for next vintage, and add to its high end stable.
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Accolade Wines has snapped up one of the Coonawarras’s oldest wineries, buying Katnook Estate from the Wingara Wine Group.
Katnook was founded in 1896 when the Coonawarra was producing just its second vintage, by winemaking pioneer John Riddoch.
His influence in the region is reflected in the naming of the Riddoch Highway after him, and the modern-day winery has a five star rating in James Halliday’s Wine Companion and has two wines on the prestigious Langton Classification of Australian Wines.
Katnook will join other South Australian brands such as Hardys, Grant Burge, St Hallett and Petaluma at Accolade, which is Australia’s largest wine company.
Accolade chief executive Robert Foye said the acquisition would not only add a much-loved brand to the company’s portfolio but would allow Accolade Wines to secure additional premium wine for the 2021 vintage, underpinning its global expansion and the premiumisation of existing brands.
“As we modernise these brands’ marketing and packaging, innovate into new higher-value product tiers and expand the distribution of these brands globally, we need access to more premium wine,” Mr Foye said.
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“In terms of the premium winegrowing areas of Australia where Accolade is investigating opportunities to expand its presence and sourcing, Coonawarra is definitely at the top of the list.
“Not only is the area a well-known premium wine region inside and outside of Australia, it also produces the kind of rich and balanced red and white varietals that the rest of the world, including China, are thirsting for.”
Accolade is owned by private equity form The Carlyle Group. Katnook's flagship wines include the premium Katnook Estate range and the limited release Prodigy and Odyssey. The acquisition is subject to Foreign Investment Review Board approval.