Potential restructuring at Accolade Wines

Following a drawn out “recapitalisation” process, lenders for Accolade Wines, which is owned by The Carlyle Group, have reportedly been presented with a “turnaround plan”.

As reported by Street Talk in the Australian Financial Review, Accolade’s debt includes a $585 million Term Loan B, which is said to be due in June of 2025. A new Term Loan B is being considered for a “large debt-for-equity swap”, which could result in no additional debt for Accolade, according to Street Talk.

The news comes after the sale of House of Arras to Handpicked Wines in late August, during which Accolade were advised by Grant Samuel and Thomson Geer.

According to the report in the Australian Financial Review, Accolade houses 50 wine brands including well-known names such as Hardy’s, St Hallett, Petaluma, Banrock Station, Grant Burge and Mud House.

The Carlyle Group acquired the Accolade Wines business in 2018 for about $1 billion.

Are you a Daily Wine News subscriber? If not, click here to join our mailing list. It’s free!