Echo Falls winemaker sold to private equity firm with eye on China

Carlyle Group uncorks A$1bn deal for Accolade as Chinese demand for wine increases

The US private equity firm Carlyle Group has agreed to buy the Australian wine producer behind the Hardys and Echo Falls labels for A$1bn (£547m) as it hopes to capitalise on China’s growing thirst for wine.

Accolade is the biggest wine company by volume in both Australia and the UK, and the company’s brands also include Banrock Station and Kumala.

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from US news | The Guardian https://ift.tt/2HdWzRm