US private equity firm snaps up Australia's largest wine maker for £500m as exports to China rocket



A US private equity firm is snapping up Australia's largest wine maker for £500million as it looks to cash in on China's burgeoning taste for wine.
The Carlyle Group said it will buy Accolade Wines after exports of wine to China rose 63 per cent last year to £465million, putting it second only to France.
Accolade owns Banrock Station, Echo Falls, Kumala and Hardys, the latter of which is the best-selling Australian wine in the UK. 
The group sells over 35m cases to 140 countries a year including the US, Japan, New Zealand and China.
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5 April 2018 in Business, Views: 74
Source: Daily Mail
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