Accolade strategy buoyed by dollar

27 Dec, 2015 03:00 AM
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Australia's second-largest wine company, Accolade Wines, has laid the groundwork for a return to the stock exchange in 2016 after a 10 per cent rise in sales from its Australasian operations.

Accolade, which owns the Hardys, Leasingham, Banrock Station and Grant Burge brands, notched annual sales from the Australia and New Zealand businesses of $486m in the year to June 30.

The results did not include its substantial UK business earnings.

Industry players suggest the Australian company represents just under half the business, which has revenues of about $1 billion, and is weighing up whether to list in the UK or Australia.

Accolade, chaired by former NSW Premier, Nick Greiner, is likely to go public in 2016, as its majority owner for the past six years, Champ Private Equity, takes advantage of a falling Australian dollar’s boost to exports.

TheLand

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