Report: Accolade Wines Set For IPO In First Half Of 2017August 12, 2016
Australia’s Accolade Wines, the world’s seventh-largest winemaker, is reportedly slated for a A$1-billion-plus ($770m) IPO in the first half of next year, as private equity owner CHAMP looks to largely divest itself from the business. According to the Australian Financial Review, Accolade is leaning toward a public listing in Australia, although the U.K. also remains a possibility.
CHAMP acquired an 80% stake in Accolade—whose brands include Geyser Peak, Hardys, Banrock Station, Grant Burge, Anakena and others—from Constellation in 2011 for A$290 million ($223m), with Constellation retaining a 20% interest. After the IPO, CHAMP and Constellation are likely to continue to hold small stakes in the company, the AFR report added.
According to Impact Databank, Accolade’s global volume reached 35 million cases last year, up from 31 million cases in 2013. Among its key brands in the U.S., Geyser Peak slipped 2% to 250,000 cases last year, while Banrock Station and Hardys Nottage Hill combined for 165,000 cases, down from nearly 1 million cases in 2007. —Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.