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Accolade Wines closes acquisition deal with The Carlyle Group

Accolade WinesAustralia’s largest wine maker Accolade Wines was acquired by the US private equity firm The Carlyle Group.

The Carlyle Group managing director David Bluff said there is significant growth potential for Accolade Wines particularly in Asia, according to AAP.

“We see significant growth potential for Accolade Wines in major wine markets, supported by a portfolio of prominent brands. With our expertise in the consumer sector and access to a global network, we look forward to working with the management team to support the company’s Asia growth strategy and the continued development of its business,” said Bluff in a statement.

The Carlyle Group said the recent major wine acquisition has brought onboard Ari Mervis, former CEO of Murray Goulburn and previously regional managing director for Asia Pacific of SABMiller. He will take up the role of executive chairman starting in August 2018. Equity for the transaction came from Carlyle Asia Partners IV, L.P.

Accolade Wines is the largest wine maker in Australia that’s behind the well-known wine brand Hardy’s and award-winning premium wines Grant Burge, St Hallett, Petaluma and Arras. It is the world’s fifth largest by volume, delivering about 35 million cases to more than 140 countries annually.

Carlyle is one of the most active international private equity investors in Australia. It also acquired iNova Pharmaceuticals in September 2017, and completed the sale of its stake in Coates Hire to Seven Group one month later. As of March 31, 2018, the company has invested more than US$2 billion of equity in 10 transactions in Australia. Carlyle established its presence in Asia in 1998 and now has nine offices in the region.

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