Global asset management firm The Carlyle Group has completed an acquisition of Australia’s Accolade Wines in a deal valued at A$1bn ($772m).

The Carlyle Group signed an acquisition agreement with shareholders the CHAMP III Funds and Constellation Brands in April this year.

Accolade Wines has a portfolio of more than 50 brands and supplies around 140 countries on an annual basis. The company’s brand portfolio includes Hardys, Grant Burge, St Hallett, Petaluma and Arras.

“We see significant growth potential for Accolade Wines in major wine markets, supported by a portfolio of prominent brands.”

The firm currently has a presence in 20 of Australia’s premium wine regions across Western Australia, Victoria, South Australia and Tasmania.

With this latest investment from Carlyle, Accolade Wines intends to strengthen its operations in Asia.

The Carlyle Group managing director David Bluff said: “We see significant growth potential for Accolade Wines in major wine markets, supported by a portfolio of prominent brands.

“With our expertise in the consumer sector and access to a global network, we look forward to working with the management team to support the company’s Asia growth strategy and the continued development of its business.”

As of 31 March this year, the group had $201bn assets under management across 324 investment vehicles and employed more than 1,575 people at its offices located across six continents.