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In breaking news for the industry, the Australian Financial Review has reported overnight that Accolade Wines is in final stage talks to buy Lion’s Australian wine portfolio. The portfolio, which is represented by Fine Wine Partners, consists of brands such as Croser, Petaluma, Knappstein, St Hallett and Stonier, among others.
According to AFR, the purchase of the portfolio and its respective contracts is intended to boost Accolade Wines’ portfolio as private equity firm CHAMP prepares to list the company on the stock market early next year.
AFR reported that Accolade is prepared to pay up to $100 million for Lion’s Australian wine portfolio.
Lion was unable to comment on the news at this stage.
The important question on this story remains on the future of the agency brands that sit outside of Lion’s portfolio but are represented by Fine Wine Partners. Brands including Henschke, Innocent Bystander, Josef Chromy, Villa Maria and Pikes all contract to Fine Wine Partners for sales, marketing, and distribution services currently.
drinks bulletin was unable to reach Lion or Fine Wine Partners for comment, however, one source did say that conversations between other agency brands and FWP are slated to start from Monday.
drinks bulletin will bring you updates as they unfold.
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