Leading Australian wine company Accolade keen to buy out Barossa legend Grant Burge

LEADING Australian wine company Accolade Wines has confirmed industry wide rumours that it is negotiating to buy one of the Barossa Valley’s biggest names, Grant Burge Wines.

LEADING Australian wine company Accolade Wines has confirmed industry wide rumours that it is negotiating to buy one of the Barossa Valley’s biggest names, Grant Burge Wines.

Accolade management released a short statement Monday morning that it was in exclusive discussions with the Barossa family company, but did not confirm when any decision would be made on the timing or nature of a buyout.

“There is no guarantee that a final agreement will be reached as a result of the discussions,” the statement said.

The wine industry has been buzzing with rumours for weeks on an impending deal, with the noise increasing in volume over the weekend.

Reynella headquartered Accolade are missing a Barossa based wine producer in their suite of Australian and New Zealand brands after it sold its 50 per cent equity stake in Barossa Valley Estate in March 2011 to joint BE shareholder Barossa Growers Holdings.

It’s expected that an agreement will be reached between the two companies by the end of the year.