Clifford Chance advises on wine and cars
Clifford Chance in Australia advised on a AU$1 billion acquisition, and in Europe on Europcar's selling a joint venture stake
Clifford Chance have announced two deals this morning. In Australia, the firm advised Carlyle Group on AU$1 billion acquisition of Accolade Wines, while in Europe the firm is advising Europcar on selling its stake in the car2go venture.
Wine group acquisition
Clifford Chance has advised global asset manager The Carlyle Group on its acquisition of 100% of The Accolade Wines Group from CHAMP Private Equity and minority shareholder Constellation Brands for total purchase consideration of AU$1 billion. Headquartered in Australia, Accolade Wines operates a global wine production and consumer wines product business, with annual global sales in excess of 36 million cases of wine to 140 countries around the world. It is the largest wine company by sales volume in Australia and the UK. Sydney-based partner Andrew Crook led the transaction, though the cross-border nature of the transaction drew upon further support from the firm's US and China offices. Andrew said, "This deal represents one of the most significant private equity transactions in Australia to date this year."
Back in Europe, the firm announced it is advising Europcar on the sale of its 25% stake in car2go Europe to joint venture partner Daimler Mobility Services. Europcar, a European leader in vehicle rental services and major player in mobility markets, will use the sale to contribute to the funding of the contemplated expansion of the Europcar group in the New Mobility segments such as car sharing, ride hailing, multi-modal platforms and car-pooling. The Clifford Chance team was led by corporate partner Fabrice Cohen and counsel Alexandre Merle, in Paris.