Australian Vintage, owner of McGuigan and Tempus Two brands, is in early merger talks with Accolade Wines, the country's second-largest winemaker.

Accolade, currently owned by The Carlyle Group (NASDAQ:CG), is undergoing a consortium-led acquisition by Bain.

Australian Vintage is exploring options and confirmed exploratory discussions with Accolade. The potential merger is preliminary, and no certainty exists regarding a transaction.

Australian Vintage hired E&P in July 2023 for a strategic review as it faces challenges in the commercial wine segment.