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Constellation Wines renamed Accolade after Champ takeover
Published:  01 February, 2011

Constellation Wines Australia and Europe has been renamed Accolade Wines following the completed acquisition of an 80% share in the company by Australian equity group Champ.

The acquisition from Constellation Brands, which has been valued at AU$290m, includes brands such as Hardys, Banrock Station, Kumala and Echo Falls, and 50% of UK drinks wholesaler Matthew Clark.

Constellation Brands will continue to work with Accolade Wines in a distribution and supply capacity, having retained 20% of the business.

Champ managing director John Haddock said: “I think everyone knows there are a number of challenges facing the wine industry but it’s an important industry and we will be enthusiastic advocates for it.

“We see Accolade Wines as a company with strong fundamentals, a sound competitive position, a capacity to grow and an opportunity to reinvigorate its brands.”

Speaking of the company’s renaming, Accolade chief executive Troy Christensen said: “Management and Champ consider the new name to be consistent with their aspirations for the future of the company.”