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Accolade Wines sold for $1bn
Two firms have advised on an M&A transaction that saw The Carlyle Group acquire the Accolade Wines group from CHAMP Private Equity and Constellation Brands.
Emma Musgrave
Firm: Clifford Chance (The Carlyle Group); Gilbert + Tobin (CHAMP Private Equity)
Value: $1 billion
Area: M&A
Key players: Sydney-based partner Andrew Crook led the Clifford Chance legal team, with support from senior associate Reuben van Werkum, while UK and EU advice was delivered through London partner Nigel Wellings and associate Stephanie Phillips.
The cross-border nature of the transaction drew upon further support from the firm's US and China offices.
Meanwhile, partners Peter Cook, Rachael Bassil and senior lawyer Alastair Corrigall led the G+T team, with support from lawyers Elizabeth Cameron, Anna de Navi, Jill Nyhof and Alexandra Meade.
G+T’s M&A team worked closely with CHAMP general counsel Jeremy Stevenson and Accolade’s general counsel Julie Ryan across all legal aspects of the transaction, including co-ordinating diligence across the UK, Europe, Asia, NZ and both North and South America, and negotiating transaction documents relating to Australia, UK and NZ.
Deal significance: Accolade is the largest producer of Australian wine and the fifth largest wine company in the world, delivering over 35 million cases to more than 140 countries each year, according to a statement from G+T.
This transaction sees Carlyle acquire both CHAMP's 80 per cent stake in Accolade and the 20 per cent minority interest held by US liquor company Constellation Brands.
“This deal represents one of the most significant private equity transactions in Australia to date this year, and was a fantastic opportunity for us to support The Carlyle Group by bringing together our strong international private equity experience,” commented Clifford Chance partner Andrew Crook.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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