Fine wine news

Accolade Wines, the supplier of brands including Hardys, Echo Falls and Da Luca Italia, has grabbed hold of the Chinese wine market by purchasing a majority stake of Shanghai CWC Wine Trading Company, a wine distribution business.

The move will allow Accolade to grow its business in China and it will also bring lower value wines to the fast-growing market.

"As Chinese wine consumers are now rapidly exploring the world of wine, this acquisition ensures we are well-placed to provide an exciting suite of wines from icons through to premium and commercial wines," commented Freddie Choong, commercial general manager of Accolade Wines in Asia.

The venture could also see Accolade develop new wines targeted specifically for the Asian market, explained general manager of Shanghai CWC, Bong Ha, who will retain a minority stake in the parent company.

Accolade is the biggest wine company by volume in the UK and Australia.

Posted by Brian Hughes