Carlyle completes buyout of Australia-based Accolade Wines

Carlyle Group completed the acquisition of Accolade Wines, which owns a portfolio of more than 50 brands. Carlyle invested in the Australia-based company from Carlyle Asia Partners IV. Ari Mervis, former CEO of Murray Goulburn, will become executive chairman in August.

Press Release

Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced it has completed its acquisition of 100% of Accolade Wines, one of the world’s largest wine companies. The acquisition brings a seasoned executive from the beverages industry to the company: Ari Mervis, former Chief Executive Officer of Murray Goulburn and previously Regional Managing Director for Asia Pacific of SABMiller. Mr. Mervis will take up the role of Executive Chairman in August 2018. Equity for the transaction came from Carlyle Asia Partners IV, L.P.

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. Carlyle established its presence in Asia in 1998 and now has nine offices in the region.
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About the Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents.

About Accolade Wines
Headquartered in Australia, Accolade Wines is Australia’s largest wine company by volume and the fifth largest globally, delivering approximately 35 million cases to over 140 countries annually. Accolade is a world-leading provider of premium, mainstream and value wines and was the first wine company to have a footprint in all major New World wine regions.

The company draws on a proud heritage with the first grapes treaded in 1853 at Hardys winery. With three of the top 10 wine brands in the UK, and two of the top 10 in Australia, Accolade’s enviable portfolio is led by Hardys and includes St Hallett, Petaluma, House of Arras, Houghton, Grant Burge Wines and Banrock Station (Australia), Waipara Hills and Mud House (New Zealand), Geyser Peak and Echo Falls (United States), Kumala & Flagstone (South Africa), and Viña Anakena (Chile).