Australia Wine

Accolade Wines puts two wineries for sale

Australia’s second biggest wine group, Accolade Wines, is putting two of its wineries up for sale as part of the group’s decision to restructure its south Australian operations.

Australia’s second biggest wine group, Accolade Wines, is putting two of its wineries up for sale, Woodside winery that makes Petaluma and Groser Brands in Adelaide Hills and Barossa’s Krondorf winery that produces Grant Burge’s white wine ranges, as part of the group’s decision to restructure its south Australian operations.

According to a report by Financial Review, the group said the production at Woodside winery has reached its full capacity and will therefore move the production of Petaluma and Groser Brands from Adelaide Hills to Accolade’s Tintara winery in McLaren Vale.

Robert Foye, new CEO of Accolade Wines, says the restructuring is not prompted by China’s tariffs.

White wines under Grant Burge label, which include Semillion, Riesling, Sauvignon Blanc, Pinot Gris and Chardonnay, will be moved from Krandorf to the group’s St Hallett winery and Tintara winery.

The three brands involved in the restructuring will still remain in Accolade’s portfolio, and only winemaking facilities and wineries are up for sale.

The group’s CEO Robert Foye, a former high-ranking executive from rival Treasury Wine Estates, stressed the decision was not prompted by punitive tariffs slapped by China, which 4% of Accolade’s wines are exported to. It was made after reviewing the group’s assets and future plans.

Its nemesis TWE counts China as its biggest market, which accounts for 30% of the group’s earnings.

Accolade, which owns brands including Hardys, Banrock Station and St Hallett, was among the 30 some Australian wine companies that participated in Chinese government’s twin investigations.

The group was slapped with 160.6% anti-dumping tariffs.

Employees at the two wineries will either be transferred to other Accolade wineries or stay on under new owners.

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