PE-backed Accolade Wines closes $300 mln from GE Capital International

Accolade Wines, a portfolio company of CHAMP Private Equity, has received a $300 million financing facility from GE Capital International. Based in Australia, Accolade Wines is a global wine company.

PRESS RELEASE

LONDON–(BUSINESS WIRE)–GE Capital International, the global alternative finance provider dedicated to the mid-market, announces it has provided a US$300M cross-border financing facility to Accolade Wines, the largest wine company by volume of wine sold in Australia and the UK.
Accolade Wines initially secured a US$220M financing facility from GE Capital International in 2011. This latest finance solution provides upsized global facilities to Accolade Wines, as the company recapitalizes its balance sheet to fund the continued global growth of the business.
Over the last 12 months, GE Capital International has funded more than US$800M in cross-border deals and introduced a Global Financial Solutions (GFS) team dedicated to providing a one-stop shop for cross-border financing solutions. One of these deals was a US$250MM pan-European and North American ABL financing solution to global rigid and flexible packaging firm, Coveris (formerly Exopack) in November. This reflects the increasing numbers of corporate companies who recognize the advantage of having a single, global financing partner. A strong pipeline is in place for 2014 and beyond as appetite for this form of financing continues to grow.
Richard Laxer, President and CEO, GE Capital International, said: “Many of our customers’ businesses cover multiple geographies. Our global footprint and experience in cross-border transactions position us to provide global financing solutions that fit our customer needs. We were able to support Accolade Wines and CHAMP Private Equity, Accolade’s majority owner with a financing facility to help them fund the continued global growth of their business.”
John Ratcliffe, CEO, Accolade Wines, said: “We have been partnering with GE for some time. GE’s global platform is important to the implementation of our strategy of being a full-service New World wine proposition globally across the three core price segments of value, mid-market and premium. We operate globally and working with GE allows us to do this seamlessly across multiple geographies.”
About GE Capital International
GE Capital International is a leading, global provider of specialist finance to the mid-market, with headquarters in London and serving customers from 30 markets across EMEA and Asia Pacific.
With ~25,000 employees and revenues of more than $11B, GE Capital International is focused on driving growth in its core commercial leasing & lending products and markets. It provides mid-market customers with a wide range of financing solutions including accounts receivable management, inventory finance, asset backed lending, cross-border financing, leveraged finance, leasing/vendor finance and fleet management solutions.
GE Capital International focuses on sectors where it can share GE’s 130+ year industrial heritage with customers – energy, healthcare, transportation, power & water, aviation, oil & gas. Through its ‘Access GE’ programme, GE Capital gives customers access to GE’s experience and expertise to help solve their business issues and challenges. For more information, visit www.gecapital.eu.
About Accolade Wines
Drawing on a proud heritage in Hardys, one of the first wineries established in Australia over 160 years ago, Accolade Wines has matured into a global wine company with some of the world’s best-known brands including Hardys, Banrock Station, Kumala, Echo Falls and Geyser Peak amongst others. Accolade Wines’ brands are sold in over 80 countries, including Australia, the UK, Mainland Europe, the U.S., Canada, Japan and China. Headquartered at historic Reynella, South Australia, the company has more than 1400 employees in Australia, the UK, Europe, North America, Asia and South Africa. For more information, visit www.accolade-wines.com.
About CHAMP Private Equity
The CHAMP group is Australia’s pioneering private equity group having successfully raised 10 funds since 1987. The current CHAMP III A$1.5 billion Fund is focused on investing in Australian, New Zealand and Southeast Asian businesses with enterprise values ranging from A$150 million to A$1 billion. The group has offices in Sydney and Brisbane, Australia and affiliated offices in Singapore and New York, providing unrivalled reach amongst Australian based peers. CHAMP has the ability to identify and execute Australian, Asian and broader cross border investments, and assist investee companies pursue international growth opportunities. For further information, visit www.champequity.com.

 

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