Clifford Chance

Clifford Chance advises Carlyle Group on AU$1 billion acquisition of Accolade Wines

Sydney: Leading international law firm Clifford Chance has advised global asset manager The Carlyle Group on its acquisition of 100% of The Accolade Wines Group from CHAMP Private Equity and minority shareholder Constellation Brands for total purchase consideration of AU$1 billion.

Headquartered in Australia, Accolade Wines operates a global wine production and consumer wines product business, with annual global sales in excess of 36 million cases of wine to 140 countries around the world. It is Australia and the UK's largest wine company by sales volume.

Sydney-based partner Andrew Crook led the transaction, with support from senior associate Reuben van Werkum, while UK and EU advice was delivered through London partner Nigel Wellings and associate Stephanie Phillips. The cross-border nature of the transaction drew upon further support from the firm's US and China offices.

Andrew offers, "This deal represents one of the most significant private equity transactions in Australia to date this year, and was a fantastic opportunity for us to support The Carlyle Group by bringing together our strong international private equity experience."

The transaction continues Clifford Chance's track record on the market's most significant deals including advising Cassia Investments on its acquisition of luxury fashion group Shanghai Tang, CVC on the US$330 million sale of outsourcing provider SPi and its US$1.1 billion privatisation offer for Nirvana Asia, MBK Partners and TPG Capital on the landmark HK$9.5 billion telecommunications acquisition of Wharf T&T, Partners Group on its US$520 million sale of Trimco Holdings Limited, National Australia Bank on the sale of its private wealth business in Singapore and Hong Kong, and PAG Asia Capital on its US$170 million investment in Food Union Group.