HWL Ebsworth advises Australian Vintage on its $19.9 million capital raising

12 June 2024

HWL Ebsworth advised Australian Vintage (ASX: AVG) on its capital raising by way of a placement and accelerated non-renounceable entitlement offer. This followed acting for Australian Vintage in relation to its merger discussions with Accolade Wines.

The company is raising $19.9 million to allow for increased levels of liquidity and financial flexibility for Australian Vintage to strengthen its balance sheet and capitalise on future opportunities.

Australian Vintage is an Australian wine and drinks company that houses a broad portfolio of brands, which are recognised and available in over 40 countries, including McGuigan Wines, Tempus Two, Nepenthe and Barossa Valley Wine Company.

They grow and source premium grapes across Australia including Barossa Valley and Adelaide Hills in South Australia, Hunter Valley and Tumbarumba in New South Wales, Heathcote in Victoria, Murray Darling in Victoria/New South Wales and the Riverland region of South Australia.

The company highlights innovation through their products and winemaking techniques. They are the only ASX-listed Australian wine producer to achieve B Corp Certification.

The HWL Ebsworth team was led by Cam Steele (Partner), with support from Jamie Restas (Partner), Stella Lee (Special Counsel), Shaun Scott (Senior Associate), Sarah Minns (Associate), Kate Munn (Solicitor) and Jarod Eddy (Law Graduate).

Note to Editors:

HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by the Australian Financial Review.

The firm comprises 1696 staff including 278 Partners, 1045 other legal staff and 373 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Melbourne, Hobart, Norwest (North West Sydney), Perth and Sydney.

HWL Ebsworth is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.

HWL Ebsworth operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.

For further information, please contact:

Russell Mailler, Chief Strategy Officer (03) 8644 3569 or rmailler@hwle.com.au

Angelique Kear, Head of Marketing (02) 9334 8541 or akear@hwle.com.au

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