The Carlyle Group has announced it has today finalised its acquisition of 100% of Accolade Wines.
The global alternative asset manager noted the company was in safe hands with the appointment of Ari Mervis, former Chief Executive Officer of Murray Goulburn and previously Regional Managing Director for Asia Pacific of SABMiller as Executive Chairman.
Mervis will take up the role in August 2018.
Headquartered in Australia, Accolade Wines owns a portfolio of more than 50 brands with 1,550 employees globally. The company has a presence in 20 of Australia’s premium wine regions across Western Australia, Victoria, South Australia and Tasmania. Its range of labels includes the UK’s number one Australian brand Hardys, and award-winning premium wines Grant Burge, St Hallett, Petaluma and Arras.
David Bluff, Managing Director of The Carlyle Group, said: “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.”
Carlyle is one of the most active international private equity investors in Australia. In addition to investing in Accolade Wines, Carlyle acquired iNova Pharmaceuticals in September last year, and completed the sale of its stake in Coates Hire to Seven Group one month later.
As of March 31, 2018, Carlyle has invested more than US$2 billion of equity in 10 transactions in Australia.
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