Ownership switch pending for local winery.

February 5, 2024 10:05 am in by
Image by Wolfgang Claussen from Pixabay

An investment consortium is now expected to take control of Accolade Wines, operators of the Berri Estates winery.  

As widely reported in recent days, Accolade have reached an agreement with lenders on a plan that would see the group under the banner of the ‘Australian Wine Holdco Limited'(AWL) take control of the company.

AWL being made up of existing Accolade financial partners Bain Capital Special Situations, Intermediate Capital Group, Capital Four, Sona Asset Management and Samuel Terry Asset Management.

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Via a statement, an AWL spokesperson said “it is hoped this restructure will build a more secure long-term future of the business & they will be working with and supporting Accolade’s management to focus on operations and stakeholders.

The statement also outlined the “The recapitalisation plan will not result in any immediate changes to Accolade’s operations, employee numbers or relationships with customers and suppliers”

The transaction is now subject to closing conditions and regulatory approvals.