Accolade Wines is putting the premium sparkling wine brand House of Arras in Tasmania on the market.
This follows a report in our weekly e-bulletin The Week That Was on Friday that Accolade was rumoured to be selling the hero brand.
“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 the portfolio,” an Accolade spokeswoman told The Australian Financial Review.
“There is no certainty that the process will result in a divestment or what structure the divestment will take in terms of the assets that may be involved.”
The Financial Review says Accolade is considering other asset sales as it “battles high debt levels and tough times in the broader wine market”.
The sale includes the Arras brand, the Bay of Fires winery and the vineyards in Tasmania.
Winemaking supremo Ed Carr has been the mainstay of the House of Arras, Australia’s most awarded sparkling wine brand.
Accolade recently put Banrock Station up for sale including the vineyards, wetlands and the tourism centre, but not the brand.
US private equity firm the Carlyle Group bought Accolade Wines from CHAMP Private Equity for $1 billion in April 2018.
The company has also sold the Nannup winery and vineyard, the Brookland Valley Estate vineyard and Stonier.
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