Accolade Wines acquires Katnook Estate Coonawarra
Accolade Wines has agreed a deal with Wingara Wine Group for the acquisition of Katnook Estate Coonwarra, including brand, winery, cellar door and approximately 160 hectares of premium vineyards on the famed terra rossa soils of the Coonawarra in southeast South Australia.
The heritage of the historic Katnook winery stretches back to 1896 and Accolade CEO, Robert Foye said the deal underpins the group’s global expansion and the premiumisation of existing brands including Grant Burge, St Hallett, Hardys and Petaluma.
“As we modernise these brands’ marketing and packaging, innovate into new higher-value product tiers and expand the distribution of these brands globally, we need access to more premium wine,” Foye said.
“In terms of the premium wine-growing areas of Australia where Accolade is investigating opportunities to expand its presence and sourcing, Coonawarra is definitely at the top of the list. Not only is the area a well-known premium wine region inside and outside of Australia, it also produces the kind of rich and balanced red and white varietals that the rest of the world, including China, are thirsting for.”
Sean Shortt, Executive Director, Sales and Marketing at Wingara Wine Group, part of the international Henkell Freixenet group, said the decision to sell Katnook Estate followed a strategic review of Wingara’s wineries and brands.
“We’re pleased to have been able to reach agreement with Accolade Wines and believe Katnook Estate will be able to reach its full potential under a new owner,” Shortt said. “Henkell Freixenet considers Australia an important market with great potential and is committed to further developing its sparkling wine and wine sales here.”
The acquisition is subject to Foreign Investment Review Board approval, and Foye said that on completion of the acquisition Accolade Wines will review the Katnook brand marketing and packaging, while retaining the brand’s rich heritage and history.