Constellation Completes Deal with CHAMP

The new wine unit, formerly known as Constellation Wines Australia and Europe, was renamed Accolade Wines by private equity group CHAMP. Managing director John Haddock acknowledged current difficulties in the wine business saying: "I think everyone knows there are a number of challenges facing the wine industry but it's an important industry and we will be enthusiastic advocates for it." He said the name change, which takes effect July 1, signals the intention to pursue higher standards.

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