Falling pound may affect Accolade Wines sale

The backers of CHAMP Private Equity’s Accolade Wines were maintaining over the weekend that the timetable of the sale for the Australian-based operation was on track, despite speculation mounting that the falling British pound could prompt delays. Accolade — widely viewed as a strongly performing business — was expected to come to market in the first quarter of next year, but the suggestion from those close to the situation is that it was always on track for a sale some time between January and June. Working on a divestment of the $1 billion-plus operation on behalf of Champ is Reunion Capital, while Citi and Morgan Stanley have been selected to provide advice on an initial public offering of the business, should it head to the Australian Securities Exchange.