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Accolade Wines To Offset UK Reliance With Eastern European Growth

May 23, 2011

Accolade Wines, Constellation Brands’ former Australian and European wine unit, is reportedly planning to reduce its dependence on the U.K.—where currency fluctuations and high taxes have harmed revenues lately—by expanding into Eastern Europe. Now owned by Australian private-equity firm CHAMP, Accolade hopes its recently established Moscow outpost will spur Russian growth and help Accolade enter neighboring markets, including Ukraine. In an interview with The Sydney Morning Herald, Accolade ceo Troy Christensen (formerly head of operations for Constellation Wines Australia and Europe) said the company sells around 20 million cases annually in the U.K., while the rest of Europe sells just 2.5 million cases.

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