Accolade Wines' owners are putting in place a board for its run at the ASX, which will be led by CHAMP Private Equity's Jim Anderson.
Street Talk understands Anderson, who joined CHAMP last year as a managing director and operating partner, will chair the nation's second-largest wine company once it lists. The company is targeting a $1 billion-plus initial public offering in the first half of 2017.
The vendors are also said to be in the process of finalising two to three additional non-executive directors for Accolade's first-half float. Accolade is majority owned by CHAMP with New York-listed Constellation Brands holding a 20 per cent stake.
Anderson appears to be a good fit for Accolade chairman. He is an existing board member and prior to joining CHAMP held the positions of chief executive and chief operating officer of Gavilon, a global agricultural commodity management firm.
Anderson knows CHAMP well after also running former portfolio company United Malt Holdings, a producer of malt for the brewing and distilling industries.
As well as putting together a listed board, Accolade's management are ramping up sales into China to ensure potential investors have good insight into the company's growth plans in that market.
In the United Kingdom, where Accolade operates a huge bottling plant at Bristol and is a market leader in wine sales, the company has renewed price discussions with retailers and distributors following a sharp fall in the pound.
As revealed by this column, Accolade fronted listed equities investors in a non-deal roadshow in early December.
The roadshow spanned New Zealand Sydney, Melbourne and Hong Kong. Cornerstone investors in Asia, including China, have also been courted.
Corporate advisory boutique Reunion Capital Partners is the independent adviser on Accolade's mooted float, while Citigroup and Morgan Stanley were hired in September to oversee the deal.
