Accolade wines is bolstering its presence in the Chinese market with the purchase of a majority stake in a Shanghai-based wine distribution business.
Shanghai CWC Wine Trading Company already distributes Accolade’s products – which include California’s Echo Falls, Australia’s Banrock Station, Hardys and Leasingham, and Kumala, Fish Hoek and Flagstone in South Africa – and this move will allow Accolade to ‘extend our presence in the market’, CEO Troy Christensen said.
Accolade commercial general manager for Asia, Freddie Choong, said, ‘As Chinese wine consumers are now rapidly exploring the world of wine, this acquisition ensures we are well-placed to provide an exciting suite of wines from icons… to commercial wines.’
Accolade, which employs 1800 people worldwide, is the biggest wine company by volume in the UK and Australia. It was formed in early 2011 when US company Constellation Brands sold a majority stake in its division Constellation Wines Europe and Australia to CHAMP Private Equity.
Written by Adam Lechmere