Accolade Wines acquires Californian brands

Accolade Wines has expanded its global footprint by acquiring Californian brand Geyser Peak and associated Atlas Peak and XYZin, together with their assets and inventory, from Ascentia Wine Estates.

“We have a good brand history in Australia, a good standing in South Africa and now we hope this acquisition can help us get a foothold in the US,” Tamara Stanfill, Accolade Wines UK events manager told the drinks business.

“The longer term global strategy includes China and it is a very exciting time for Accolade Wines.”

This new deal is set to spearhead Accolade Wines’ growth in the US. Chief executive officer, Troy Christensen, said: “I am delighted to welcome Geyser Peak, Atlas Peak and XYZin to the Accolade Wines’ family, their acquisition will allow us to leverage the expertise we already have in global distribution and innovation and help us to develop the opportunities we see emerging within the United States.”

As part of the deal Accolade Wines will be leasing Geyser Peak’s winery, 98 acres of Cabernet Sauvignon vineyard and the winery’s cellar door.

The Geyser Peak move follows Accolade’s aggressive expansion into China in January with the purchase of a majority stake in a Shanghai-based wine distribution business.

“Initially we see that there is tremendous opportunity within the US to grow these brands but we also have the capacity to fit them within the portfolio we are now marketing in Europe, United Kingdom and the rapidly developing Asian markets, especially China,” added Christensen.

“Alexander Valley-based Geyser Peak in Sonoma and Napa Valley-based Atlas Peak bring two of California’s best appellations into our portfolio, which already includes top brands from key Australian, South African and Old World wine regions. We plan to bring to the US our category, customer and consumer expertise which has underpinned our strength in the European and Australian markets.”

An important aspect to this deal is that there is also an opportunity for Accolade Wines to re-invent these Californian wines.

“This is all very new to us but yes absolutely there is some room to develop and grow these brands,” Stanfill added.

“We have no plans at the moment but we hope these brands will be able to allow us to integrate and grow in the US market and maximise the opportunity to grow the brand.

“The brands are quite well known in California and that was part of the focus when we set about looking to acquire some California brands. Our aims are to grow and expand the current portfolio.”

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