AUS: CHAMP secures US$300m loan to fund Accolade Wines expansion
Accolade Wines is eyeing global expansion
Accolade Wines is aiming to strengthen its global business after its private equity owner, CHAMP, secured a US$300m loan facility for the group.
The Adelaide-headquartered wine firm is looking to use the “cross-border” facility to invest in the markets where it operates. Global finance provider GE Capital International is funding the facility, having previously provided Accolade, through CHAMP, with a $220m loan in 2011.
“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,” said Accolade's CEO John Ratcliffe, who took up the post last month.
GE Capital said the facility would allow Accolade to "recapitalise its balance sheet to fund the continued global growth of the business".
When contacted by just-drinks a GE Capital spokesperson declined to say when the loan must be repaid.
Accolade, which was renamed by CHAMP after being acquired from Constellation Brands in 2011, sells its wines in around 80 countries, including in Australia, the UK, mainland Europe, the US, Canada, Japan and China.
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