Australia’s Accolade Wines has signed an agreement with the owners of Barossa Valley winemaker to acquire Grant Burge brand in addition to the Krondorf Winery.

However, the deal is subject to certain third-party conditions and if met, the sale would complete in January 2015, reports

In a statement, the company said: "Accolade Wines is excited by the opportunity to build on the domestic strength of the brands and grow Grant Burge Wines internationally through its distribution network which spans 112 countries."

The winery was founded by Grant and Helen Burge in 1988.

Grant Burge Wines produces and distributes wines in Australia. In addition, it markets its products across the UK, Europe, Canada, the US, and Asia.

Grant Burge has an annual sales of around £24m, reported Barossa Herald newspaper.

Accolade Wines is 80% owned by Champ Private Equity while the remaining stake is owned by Constellation Brands.

In April 2014, Accolade acquired New Zealand wine brands Mud House and Waipara Hills, and their assets, from the Mud House Wine Group.