CHAMP Private Equity has acquired an 80% stake in Constellation Brands’ Australian and U.K. business, Constellation Wines Australia and Europe, for $289.49 million, Trading Markets reports. CHAMP has rebranded the new entity as Accolade Wines after the takeover. Constellation will retain a 20% stake in Accolade Wines and receive cash proceeds of about $230 million. Constellation will also provide distribution and supply services for the new company, adds AltAssets.
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