Accolade Wines confirms Grant Burge talks

By Gemma McKenna

Published: 17 November, 2014

Accolade Wines has confirmed it is in exclusive discussions to acquire the Barossa-based firm Grant Burge Wines.

But a spokeswoman for the group told Harpers.co.uk that "there is no guarantee that a final agreement will be reached as a result of the discussions".

"In the event that an agreement is reached, Accolade Wines and Grant Burge Wines will release a statement."

The family-controlled Grant Burge Wines has a long history of winemaking in the Barossa Valley - stretching back as far as 1855.

Accolade, which includes Australian brands Hardys and Banrock Station in its portfolio, has been owned by private equity firm Champ since the beginning of 2011.

In March this year Accolade recapitalised with a US$300 million cross-border finance facility through GE Capital in order to fins "continued global growth". In November 2013 it acquired a range of brands from New Zealand's Mud House group, in order to boost its portfolio and grow in Europe, North America and Asian markets.

The news comes on the heels of another major acquisition on the Australian wine scene - last week Casella Family Brands, owner of Yellow Tail, offered to buy Peter Lehmann Wines in a deal said to be worth around AU$57 million.

Accolade Wines operates in over 80 countries and is headquartered at Reynella in South Australia. It employs 1,400 people across Australia, the UK, Europe, North America, Asia and South Africa.

Grant Burge Wines is currently led by the family's fifth generation winemaker of the same name, Grant Burge.

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