Accolade buys Chinese wine distribution firm

Published: 20 January, 2012

Accolade Wines is expanding into China with the purchase of a majority stake in a Shanghai-based wine distribution business.

Chief executive Troy Christensen said the acquisition of Shanghai CWC Wine Trading would help the firm expand into the rapidly developing Chinese market.

"We already have an established relationship with the business which has been distributing Accolade Wines' products in China and Mongolia for many years, but we will now be in aposition to extend our presence in the market," said Christensen.

Accolade Wines commercial general manager for Asia, Freddie Choong said: "As Chinese wine consumers are now rapidly exploring the world of wine, this acquisition ensures we are well-placed to provide an exciting suite of wines from icons through to premium and commercial wines."

Current shareholders, including manager Bong Ha, will retain a minority stake in the parent company and he will continue to manage the business.

Ha said: "Accolade has the capacity to not only offer its existing wines to Chinese consumers but to work with us to develop wines specifically for the Chinese
market."

Accolade Wines owns brands including Hardys, Banrock Station and Kumala among others.

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