Bain Special Situations and London-based Sona Asset Management, two specialists in distressed assets, are poised to take control of Accolade Wines as they work through the final details of a debt restructuring, with terms close to being agreed.
The restructure of Australias second-largest wine company owned by The Carlyle Group and with a portfolio of brands including Hardys, Croser and Banrock Station is vital for a reset of a business that has been labouring under heavy debt levels.
Accolade Wines chief executive Robert Foye has his hands full as Australias second-largest wine group attempts to restructure its balance sheet.
Accolades recapitalisation comes after a difficult period for the i…
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