Constellation Wines renamed Accolade after Champ takeover

01 February, 2011

Constellation Wines Australia and Europe has been renamed Accolade Wines following the completed acquisition of an 80% share in the company by Australian equity group Champ.

The acquisition from Constellation Brands, which has been valued at AU$290m, includes brands such as Hardys, Banrock Station, Kumala and Echo Falls, and 50% of UK drinks wholesaler Matthew Clark.

Constellation Brands will continue to work with Accolade Wines in a distribution and supply capacity, having retained 20% of the business.

Champ managing director John Haddock said: “I think everyone knows there are a number of challenges facing the wine industry but it’s an important industry and we will be enthusiastic advocates for it.

“We see Accolade Wines as a company with strong fundamentals, a sound competitive position, a capacity to grow and an opportunity to reinvigorate its brands.”

Speaking of the company’s renaming, Accolade chief executive Troy Christensen said: “Management and Champ consider the new name to be consistent with their aspirations for the future of the company.”





Comment

David Williams

From the crystal ball

Few days before writing this article, i came across an old piece by Robert Parker, written in 2004, in which he made 12 bold assertions about how wine would look by 2015.

Click for more »

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