The European business of Constellation has been renamed Accolade Wines following the completion of its sale to Champ Private Equity.
The business, which also includes the Australian arm of Constellation Brands, said its new name indicated “an intention to pursue high standards in everything it does”.
The A$290m (£181.6m) sale, which sees wine brands such as Hardys, Kumala and Echo Falls change hands, was announced in December.
“The management team is looking forward to working with the new owners, who are bringing open-mindedness, fresh energy and an expansive approach to the business,” said Troy Christensen, who remains as chief executive of the renamed business.
“Management and Champ consider the new name to be consistent with their aspirations for the future of the company.”
Champ MD John Haddock added: “Everyone knows there are a number of challenges facing the wine industry but we will be enthusiastic advocates for it.
“We see Accolade Wines as a company with strong fundamentals, a sound competitive position, a capacity to grow and an opportunity to re-invigorate its brands.”
What’s in the stars for UK wine now Constellation has gone? (analysis; 15 January 2011)
Constellation sale sparks fears for 650 British jobs (8 January 2011)