Accolade Wines has confirmed plans to sell off Australian wine brand House of Arras as the group ups its focus on becoming a “capital-light” business.
The move, announced earlier this week, sees the private equity-owned company “sounding out potential interest” in the brand as well as its winery and 24-hectare vineyards in Tasmania. Accolade, which is best known for its Hardys, Banrock Station and Jam Shed wine brands, intends to retain the related Bay of Fires and Eddystone Point brands as well as the Bay of Fires cellar door.
The House of Arras portfolio’s cheapest wine is its Blanc de Blancs, available from the winery’s website for AUD40 [US$26.50] per bottle.
“While Accolade Wines is incredibly proud of the international success of the House of Arras brand in recent years, the company believes it is the right time to consider a divestment of Arras to allow us to focus on other parts of the business with a closer strategic alignment to the rest of our portfolio,” a spokesperson said.
“The strategic divestment of some of assets, particularly vineyards and production facilities either outright or through sale-and-leaseback arrangements, is in line with this capital-light model and allows the company to redeploy capital to invest in its brands and growing sales.”
Accolade, which was acquired by Carlyle Group from private equity peer CHAMP in 2018, lists Australia and the UK as its main markets although said this week it “has also identified opportunities for growth in markets including the US and Asia”.
How wine is approaching today’s consumer trends – Market Intel
