Case Study - Accolade Wines
Background
- Appointed to the board of directors for the Australian and UK holding companies.
- One of the world’s biggest wine companies with headquartered in South Australia.
- Wine brands including: Hardy’s, Grant Burge, Mud House, Jam Shed, Banrock, St Hallet and Petaluma.
- Accolade wines sells its products in over 80 countries including – UK, Canada, US, Japan and China.
- Chinese trade tariffs on Australian wine of up to 176% had a negative impact on exports.
- Decline in consumption of wine worldwide.
- Debt USD$572 million due in June 2025 and a USD$150 million revolving credit facility maturing at the end of 2024.
Strategy
- Assist with the implementation of a Change of Control (CoC)
- During the process ensure protection of the Board and Executive from financial and legal recourse.
- Provide guidance on the resolution of key conditions for the CoC to occur.
- Progress synergetic M&A opportunities.
Results
- Change of control effected.
- Retained on the Board by new stakeholders.
- Continued assistance with the company during the transfer.
- Ongoing assistance and guidance of how to deal with difficult legacy contracts.