AUS/NZ: Accolade Wines to buy NZ brands from Mud House
Accolade Wines is acquiring several wine brands in New Zealand from Mud House Wine Group
Accolade Wines has lined up the purchase of a raft of New Zealand wine brands, including Mud House and Waipara Hills, from the Mud House Wine Group.
The company, which is owned by Australian private equity group CHAMP, confirmed earlier today (6 November) that the transaction, which will also see Dusky Sounds, Haymaker and Skyleaf move across, is expected to complete early next year. The acquisition, for an undisclosed sum, requires the approval of New Zealand's Overseas Investment Office.
“The suite of brands … covers outstanding wines from key regions: Marlborough for Sauvignon Blanc, Central Otago for Pinot Noir and aromatics from the Waipara Valley including Riesling and Pinot Gris,” said Accolade's GM for Australia and New Zealand, Michael East.
Mud House's chairman, Bob Major, added: “Accolade’s extensive international sales networks, as well as its experience marketing New World wines, would enable Mud House to grow production and sales much faster and more cost efficiently than we do currently.”
The New Zealand group's team will be retained by Accoade, with the existing grower contracts set to continue.
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