Sydney — US-based investor the Carlyle Group has bought Australia’s biggest wine producer, Accolade Wines, for A$1bn ($770m) as it seeks out growth opportunities in the Asia Pacific region, the firm said on Thursday. Accolade Wines, the world’s fifth-largest wine company by volume, was sold to the Carlyle Group by Australia’s Champ Private Equity, which owns 80% of the firm, and US alcohol distributor Constellation Brands. "This is a company with great brands and strong market positions, with multiple growth opportunities, particularly in Asian markets," Carlyle said in a statement. "We look forward to supporting Accolade Wines with Carlyle’s global resources, and investing in the business and working with staff, suppliers and customers to drive growth." Champ created Accolade Wines after buying Constellation Wines’ Australian and European units in 2011 for A$290m, and built up the company. Accolade Wines exports to more than 140 countries, and while it is headquartered in Australia...
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