Accolade teams up with TWE in landmark deal
Production at Accolade Wine’s Bristol hub will increase by 30% after it signed a landmark reciprocal bottling deal with Treasury Wine Estates.
Accolade, whose brands include Hardys, Kumala and Echo Falls, will now bottle for TWE in the UK and TWE will bottle for Accolade in Australia.
The agreement sees Accolade, the biggest wine company by volume in the UK, shed 175 jobs in South Australia, with regional premier Jay Wetherill blaming the high Australian dollar.
Accolade chief executive Troy Christensen said the agreements would strengthen the Australian wine industry making both Accolade and TWE more efficient.
“This groundbreaking agreement will enable each of us to secure economies of scale in each region,” Mr Christensen said.
“Our decision to enter a reciprocal bottling agreement with TWE underpins Accolade Wines continued success in Australia and globally.
“This agreement is important for the thousands of people in Australia and globally who rely on our business, including employees, customers, grapegrowers and other suppliers."
Accolade’s rivals Pernod Ricard, maker of Jacob's Creek, and Australian Vintage, owner of the McGuigan and Nepenthe brands, have already moved to bottle in the UK this year.