US private equity giant Carlyle Group acquired the Accolade Wines business for about $1 billion in 2018.
The luxury sparkling wine brand Arras is up for sale, as Accolade steps up an asset sale program to cut debt.
The dealmakers involved in the 2018 purchase of Accolade Wines by Carlyle are no longer with the private equity group.
Big wine brands in the Accolade stable include Hardy’s Banrock Station, St Hallett, Grant Burge and Petaluma.
Accolade Wines, backed by private equity giant The Carlyle Group, is planning to sell one of its most prestigious brands, House of Arras in Tasmania, while considering other asset sales as it battles high debt levels and tough times in the broader wine market.
Accolade is Australia’s second-largest wine group behind Penfolds owner Treasury Wine Estates. Accolade has 50 wine brands including big names such as Hardy’s, St Hallett, Petaluma, Banrock Station, Grant Burge and Mud House. It has a workforce of 1400 in 40 countries.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
