House of Arras sold to Handpicked Wines by Accolade Wines as its debt strains grow
House of Arras, which many wine experts believe can hold its own against French champagne, has been sold to privately owned Handpicked Wines for an undisclosed sum.
Tasmania’s famed House of Arras, the sparkling wine from the south that for many is as good as French champagne, has been sold to the privately owned Handpicked Wines.
Accolade Wines, the nation’s second-largest winemaker, and which is straining under considerable debt, has agreed to sell its prized Tasmanian sparkling brand Arras for an undisclosed sum.
The transaction includes the brand, 24ha of premium vineyards, inventory and the Bay of Fires winery and cellar door at Pipers River, Tasmania.
Family-owned Australian wine producer Handpicked Wines is known for making wines across Australia’s top wine regions, including its vineyards and wineries on the Mornington Peninsula, in Tasmania, the Yarra Valley and Barossa Valley.
Accolade, owned by US private equity giant Carlyle, has been straining under a weight of debt and has been looking to sell some of its assets. Accolade owns some of Australia’s biggest wine labels including Hardys, Banrock Station, Petaluma and Grant Burge.
Handpicked Wines CEO and founder William Dong said: “House of Arras is a globally celebrated sparkling house and we are honoured to become the custodians of this admired brand and uphold its tradition of winemaking excellence.”
It was thought at one stage that Endeavour Group, which owns liquor chain Dan Murphy’s and a number of wineries such as Oakridge and Cape Mentelle, was also considering a bid for Arras.
Accolade Wines CEO Robert Foye said “We are pleased to be entrusting Arras to a company with extensive experience in fine wine.”
Under the terms of the sale, Accolade has entered into a long-term agreement to continue to produce and bottle all House of Arras brands under contract with Handpicked Wines.
The grapes will continue to be sourced and pressed in Tasmania, and the wines will be made at existing facilities in the Accolade network, including Torresan in Woodside, South Australia, which will continue being a key third-party location for traditional method tirage and bottling.
Accolade is retaining its other premium Tasmanian brands Eddystone Point and Bay of Fires, which will continue to be made at the same site.
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