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CPE Capital, Portfolio Company Announcement

CHAMP Private Equity wins at the 2018 AVCAL Awards

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September 26, 2018

- CPE Capital, Portfolio Company Announcement

2018 AVCAL Annual Awards Recognise the Industry’s Best.

CHAMP Private Equity wins the award for the “Best Upper Mid-Cap Investment between $250 million and $500 million” for their investment in Accolade Wines.

At the industry’s 25th anniversary marquee annual event, the Australian Private Equity and Venture Capital Association Limited (AVCAL) handed out awards to a number of outstanding firms and industry leaders.

“The private capital investment industry in Australia plays a significant role in growing businesses, creating new jobs, and nurturing a more innovative and dynamic Australian economy, these awards recognise the contributions that make that happen, said AVCAL Chief Executive, Mr Yasser El-Ansary.

More than 450 of the private capital industry’s leaders are gathered at the annual AVCAL Conference this year, with the awards event concluding two days of thought-provoking discussion and debate about the big issues which will shape the future of Australia, and global financial services markets over the next decade.

“When you bring the power of our collective industry together, you see very clearly the potential for private capital investors to drive big shifts in the economy in areas such as energy, healthcare and data,” added Mr El-Ansary.

Award winners in a number of categories were celebrated at tonight’s event, including a number of special awards for industry pioneers who have played a role in growing private capital in Australia over the past 25 years.

“All of the award winners are leaders who have demonstrated exceptional investment execution strategy through the work they have done to grow and expand good businesses, transforming them into great businesses,” said Mr El-Ansary.
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CPE Capital, Portfolio Company Announcement

Accolade Wines sold to The Carlyle Group for A$1bn

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April 5, 2018

- CPE Capital, Portfolio Company Announcement

An agreement has been entered into between 80% shareholder, the CHAMP III Funds (CHAMP) and 20% shareholder, Constellation Brands, Inc. (Constellation) to sell 100% of their shareholdings in Accolade Wines (Accolade) to The Carlyle Group (Carlyle). The total consideration for the purchase is A$1 billion.

In early 2011 CHAMP acquired two separate divisions from Constellation for A$290 million and began the process of creating Accolade Wines. CHAMP Private Equity CEO Mr John Haddock said “We saw an opportunity, but the wine industry has long cycles so we knew we had to commit to a longer hold in order to realise that opportunity.”  

“The two divisions CHAMP acquired had separate strategies, separate management, operated out of Australia and the UK and were even on separate IT systems. Firstly, we had to bring the two divisions together to create one business.” Mr Haddock said.

More than seven years later under CHAMP’s stewardship Accolade is the largest producer of Australian wine, exporting to more than 140 countries, and one of the world’s leading wine companies. Accolade is a proud Australian success story deriving more than two thirds of its earnings offshore and with more than A$350 million in annual exports of Australian wine.

“We followed a deliberate strategy of creating a New World wine platform so that we now have wine making operations in Australia, New Zealand, South Africa, the United States and Chile, while also premiumising our local offering through the acquisitions of Grant Burge Wines and the Fine Wine Partners portfolio, which included brands such as St. Hallett, Petaluma and Croser.” Mr Haddock said.

CHAMP has also made significant investment in Accolade’s production facilities and following the completion next year of the new bottling and warehousing facility at Berri in South Australia, the company will have the largest bottling, packaging and distribution centres in both Europe (Accolade Park in the UK) and in the Southern Hemisphere to service all of its key markets.

CHAMP is proud of the work undertaken to both rejuvenate core brands like Hardys, which has been making wine for more than 160 years, and growing the brands that have been added to the portfolio. “I know Sir James and Bill Hardy are very pleased with the renewed trajectory that their family’s heritage brand is taking and since Accolade’s acquisition of Grant Burge, sales have increased by more than 80%.” Mr Haddock said.

Accolade is now a leading Australian based consumer goods company of a size and scale which puts it in the top five of its sector globally, with established assets, brands of special heritage and an export driven platform pointing towards Asia.

“Accolade represents the best of private equity ownership: taking the time to develop a business, investing in multiple areas of the business and orientating the company towards a growth opportunity that has many years ahead of it.”

“CHAMP is proud to have been the custodian of so many widely respected brands, to have contributed to the great Australian wine industry and to have added export value to Australia. We are very pleased that a global firm of such experience and capability as The Carlyle Group will now take Accolade forward.” Mr Haddock said.

About CHAMP Private Equity

The CHAMP Group is one of Australia’s most experienced private equity managers having first raised institutional capital more than 30 years ago. Since that time CHAMP has made more than 90 investments and deployed more than $3.5 billion in equity capital. CHAMP has one of the largest dedicated investment teams in the region and is currently investing the CHAMP IV Funds. Current CHAMP portfolio companies include: Pepperstone, Containerchain, Strait NZ, Dutton Garage, Jaybro, Axieo and Shelf Drilling.  

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Portfolio Company Announcement

Accolade Wines Kayamandi Pre-Primary school donation

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September 16, 2015

- Portfolio Company Announcement

During Cape Wine Accolade Wines will be marking a significant event at Kayamandi Pre-Primary School, near Stellenbosch – the formal opening of new classrooms the company has funded, as the latest venture in over a decade of support for the township’s schools.

The ceremony, on Wednesday, August 16, celebrated the addition of four new classrooms, two store rooms and a number of toilets, made possible by the R2 million (AU$200,000/GBP£100,000) investment from the company as part of their 2014/2015 Global Corporate Social Responsibility (CSR) project.

Kayamandi, a community of approximately 50,000 people, is subject to extreme poverty and challenging socio-economic conditions. As many of the community work, or are involved, in the wine industry, it was fitting that Accolade Wines chose to assist with upgrading the community’s pre-primary school.

James Reid, Accolade Wines General Manager for Bulk Sourcing and South African Operations, said the early learning stage of a child’s development is known to be an integral period for education and setting the foundation of learning for life.

“The new pre-primary school facilities that Accolade helped fund enable township children of between five and six years of age start their education prior to entering the official school system at seven.

“Accolade Wines, together with the tireless efforts of those in the community, can now ensure that these young students have a safe and pleasant place to study.” Mr Reid said.

The upgrades to the pre-primary school have not only provided young community members with the basics prior to their entry into primary school, but also provided Kayamandi residents with additional employment opportunities helping build the facilities.

Accolade Wines has been involved with various school projects in Kayamandi since 2003, actively supporting the community and investing over R6 million in the local pre-primary school to date. Contributions have included the construction and furnishing of new school buildings and financial assistance enabling additional teachers and cleaners to be hired.

“As part of our continued involvement with Kayamandi Pre-Primary, our latest investment represents the next step in assisting our local community – and is by no means the end of our planned involvement in the winelands.” Mr Reid concluded.
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Portfolio Company Announcement

Accolade Wines buys Chile’s Vina Anakena

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September 14, 2015

- Portfolio Company Announcement

Global wine business, Accolade Wines, has become the first company to have a footprint in all major New World wine regions, with the acquisition of Chilean, Viña Anakena cementing its position as the leading New World supplier of premium, commercial and value wines. 

Viña Anakena has an outstanding reputation as a producer of world-class, distinctly Chilean wines and is a significant exporter with a presence in 50 markets, including the United States.

Accolade Wines is one of the world’s largest wine businesses, with leading Australian brands, Hardys, Grant Burge Wines and Banrock, South African Flagstone, Fish Hoek and Kumala, Californian Geyser Peak, Atlas Peak and Echo Falls and New Zealand’s Mud House and Waipara Hills.

Viña Anakena was founded in the late 1990s by two friends, Felipe Ibáñez and Jorge Gutiérrez, in Alto Cachapoal, in the cool foothills of the Andes Mountains, south of the Chilean capital Santiago. Their goal was to craft elegant, innovative and distinctly New World wines that reflected their origin and Chile’s potential as a producer of world- class fine wines.

Their goals were achieved with Viña Anakena’s wines widely acclaimed by consumers, wine writers and the trade.

The acquisition includes all the brands and inventory relating to Anakena labels, a 3000 tonne winery, a vineyard near the winery, Cellar Door and VIP tasting room. 

Accolade Wines’ Chairman, Nick Greiner, said Accolade now had a presence in all key New World regions – Australia, New Zealand, South Africa, North America and South America.

“Our customer knowledge and sophisticated distribution systems will build on Anakena’s foundations, as we did with New Zealand’s Mud House, quickly building it into million case brand in the UK,” Mr Greiner said. 

Accolade Wines’ will retain the current leadership team, headed by Ricardo Letelier, who will report to Accolade’s MJ Loza, head of Accolade Wines’ American business. Other senior management including Anakena’s winemaker Gavin Taylor will stay with Anakena too.

Viña Anakena, Managing Director, Ricardo Letelier, said joining the Accolade fold was an exciting time for the Chilean team.

“Accolade has a track record of looking after and growing brands,” Mr Letelier said.

“The 160 year-old Australian Hardys brand is at the heart of the business, and is the number one selling wine in the United Kingdom. Accolade has demonstrated through its acquisitions of Geyser Peak in 2012, Mud House in 2014, and Grant Burge Wines early this year, that it not only preserves the unique identity and heritage of its brands but can bring its global expertise to bear to grow brands that it brings into the company.

“We see our involvement as a significant opportunity for Anakena and our team.”

Anakena’s founders, Felipe Ibáñez and Jorge Gutiérrez, are glad to see the brand and assets they founded enter a new growth phase with Accolade at the helm.

“We are proud of our country and national wine industry and for over 15 years have enjoyed building the high quality wines and assets of Anakena. As we pass the business onto Accolade we look forward to seeing the great wines of Anakena available to more consumers in more countries. Bringing Accolade to Chile will be positive for both Anakena and the Chilean wine industry in general.” 

Mr Loza welcomed Anakena’s 80 employees to the business, saying that their skills, expertise and understanding of the Chilean wine business would be invaluable to Accolade’s future growth plans.
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