By Amy Looker
Accolade Wines has moved to strengthen its position in China with the purchase of a majority stake in a Shanghai-based wine distribution business.
Accolade Wines CEO Troy Christensen said the acquisition of Shanghai CWC Wine Trading Co Ltd will provide a springboard for the global wine producer’s expansion into the rapidly developing Asian market.
“We already have an established relationship with the business which has been distributing Accolade Wines’ products in China and Mongolia for many years, but we will now be in a position to extend our presence in the market,” Christensen said.
The completion of the acquisition gives Accolade Wines offices in both Beijing and Shanghai, which Accolade Wines commercial general manager – Asia, Freddie Choong, said will provide a solid platform to boost its local market position.
“Accolade Wines has an unparallelled range of brands and wines with labels showcasing Australian, South African, Californian and New Zealand brands.
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,” Choong said.