Accolade’s Burge buy comes with $10m loss

Original article by Simon Evans
The Australian Financial Review – Page: 18 : 29-Jun-15

Grant Burge Wines sells around 450,000 cases of wine in Australia each year, and ranks among the nation’s 10 biggest-selling wine brands. Accolade Wines acquired the business in early 2015 and has appointed Jeff Bond as general manager. His task will be to turn around Grant Burge’s fortunes, after it posted a loss of $A9.4m in 2013-14. This followed a modest profit of $A264,247 in the previous fiscal year. Revenue was $A40.4m in 2013-14, compared with $A43.2m previously.

CORPORATES
ACCOLADE WINES LIMITED, GRANT BURGE WINES PTY LTD, CHAMP PRIVATE EQUITY PTY LTD, PETER LEHMANN WINES LIMITED, CASELLA WINES PTY LTD, HARDY WINE COMPANY LIMITED, LEASINGHAM WINES, NOTTAGE HILL WINES, BANROCK STATION WINES, MUD HOUSE WINES LIMITED, CONSTELLATION BRANDS INCORPORATED, TREASURY WINE ESTATES LIMITED – ASX TWE, PENFOLDS WINES PTY LTD

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