Chanticleer

Bain seeks to quaff up Australia’s Accolade Wines

The local winemaking giant’s first private equity owner made a motza, the second lost it. The new brigade promises its reign will be very different.

Oct 8, 2024 – 6.39pm

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Private equity has got the keys to one of Australia’s biggest and oldest wine businesses, Accolade Wines – again. It was a disaster for the last mob. The new brigade promises its reign will be very different.

Will it? It has certainly started differently. The new owners, a consortium of three very different financial investors and two former lenders, bought Accolade’s debt on the cheap and bailed out the company as it was over-leveraged, selling assets and fighting for survival.

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.