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

What it takes to be admirable

Voting in this magazine’s redoubtable annual awards for the world’s most admired wine brands has forced me, as it does every year, to think about the subject of wine brands properly for a change.

Click for more »

Events

Facebook

Twitter