Australian Vintage (AV) announced that the merger negotiations with Accolade have ended. On May 27, AV requested the suspension of its shares from trading on the Australian Stock Exchange. This decision was due to the failure of talks with Accolade, which now forces AV to seek new capital and refinance its debts.
Accolade was also reportedly in parallel negotiations with Pernod Ricard to acquire their Australian wine brands. In their statement, AV noted that Accolade did not provide reasons for ending the talks. However, they do establish a temporal connection with the failure of a price negotiation. A day before the merger's termination, the CCW Cooperative had rejected a proposal to renegotiate the supply contract with Accolade during its general assembly. The company had requested a new price negotiation with the cooperative.
