Accolade Acquires Range Of Premium Wines From New Zealand’s Mud HouseNovember 6, 2013
Aiming to expand its presence in wine’s premium segment, Accolade Wines has acquired the portfolio of New Zealand wine company Mud House. Under the terms of the deal, Accolade has agreed to purchase the Mud House, Waipara Hills, Dusky Sounds, Haymaker and Skyleaf brands for an undisclosed sum. Meanwhile, Marlborough-based Mud House is selling its 400 hectares (1000 acres) of vineyards to Hong Kong-based CK Life Sciences. (Mud House is keeping its other two business—New Zealand Wineries, and New Zealand Extracts, a biotech business which develops extracts from grapes.)
Accolade has said it will be retaining Mud House’s New Zealand team, headed by MJ Loza. Loza will report to Michael East, Accolade’s general manager for Australia and New Zealand. “New Zealand wine is respected and sought after around the world and we see this as a fantastic opportunity to further increase the sales, marketing and distribution of the Mud House and Waipara Hills brands in particular,” said East in a statement. He also told local newspapers that, with Accolade heavily dependent on the $7-$15 price segment, the company has been looking to add wine brands in the $15-$50 tier. The Mud House deal gives Accolade several brands in that price range.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.