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Bain-led consortium takes over Australian winemaker behind Hardys

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Bain-led consortium takes over Australian winemaker behind Hardys

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A Bain-led consortium has taken over Australia’s second-largest wine producer Accolade Wines after it struggled to adapt to Chinese tariffs and a consumer shift away from lower-priced brands.

The company behind brands such as Hardys Wines and Banrock Station was bought by Carlyle in 2018 for A$1bn (US$660mn) at a time when private equity bidders were targeting Australian wine companies.

But Accolade has been hit by the Covid-19 pandemic’s damaging impact on the hospitality sector, the introduction of punitive Chinese tariffs on Australian wine in 2020 and a switch by many consumers to more expensive wines.

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“Accolade Wines has a long, proud Australian history as a world class wine producer and we hope it will remain so for many decades to come. We hope this restructure will build a more secure long-term future of the business,” said a spokesperson for the consortium.

“Like all Australian winemakers, we have been hit by a number of challenging macroeconomic and industry headwinds in recent years,” said Robert Foye, Accolade Wines chief executive. “Our ability to respond to these challenges and grow has been hampered by an unsustainable balance sheet.”

Accolade, which has a near-A$600mn loan due in 2025 according to the company, has been struggling to service its debts. The new owners, led by Bain’s special situations unit, have been buying up Accolade’s debt at a heavy discount and hope to complete the company’s recapitalisation by the middle of the year. The company has commenced talks with grape suppliers in South Australia to renegotiate supply contracts.

Called Australian Wine Holdco, the consortium also includes asset managers Intermediate Capital Group, Capital Four, Sona Asset Management and Samuel Terry Asset Management.

Accolade has already been selling smaller brands, including its Tasmanian vineyard Bay of Fires, to lower its debt. Analysts said the restructured company was likely to be a consolidation target for a large trade buyer or a private equity company.

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Australian winemakers are preparing for a reopening of the Chinese market, once the sector’s growth driver, after a review of the 2020 tariffs was kicked off late last year.

The review followed a state visit by Australia’s Prime Minister Anthony Albanese to China in November and a resumption of trading for other products that had been halted after the then-Australian leader Scott Morrison called for an inquiry into the origins of Covid-19. 

Australian wine companies including Treasury Wine Estates and Accolade have turned to other markets in south-east Asia and North America to offset the loss of Chinese sales. Accolade struck a deal with basketball player James Harden to launch a signature wine collection to drive US sales last year.

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‘Music makes everything better’: A Texas doctor spins vinyl to give patients relief

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‘Music makes everything better’: A Texas doctor spins vinyl to give patients relief

Dr. Tyler Jorgensen sets “A Charlie Brown Christmas” on a record player at Dell Seton Medical Center in Austin Texas. He uses vinyl records as a form of music therapy for palliative care patients.

Lorianne Willett/KUT News


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Lorianne Willett/KUT News

AUSTIN, TEXAS — Lying in her bed at Dell Seton Medical Center at the University of Texas at Austin, 64-year-old Pamela Mansfield sways her feet to the rhythm of George Jones’ “She Thinks I Still Care.” Mansfield is still recovering much of her mobility after a recent neck surgery, but she finds a way to move to the music floating from a record player that was wheeled into her room.

“Seems to be the worst part is the stiffness in my ankles and the no feeling in the hands,” she says. “But music makes everything better.”

The record player is courtesy of the ATX-VINyL program, a project dreamed up by Dr. Tyler Jorgensen to bring music to the bedside of patients dealing with difficult diagnoses and treatments. He collaborates with a team of volunteers who wheel the player on a cart to patients’ rooms, along with a selection of records in their favorite genres.

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“I think of this record player as a time machine,” he said. “You know, something starts spinning — an old, familiar song on a record player — and now you’re back at home, you’re out of the hospital, you’re with your family, you’re with your loved ones.”

UT Public Health Sophomore Daniela Vargas pushes a cart through Dell Seton Medical Center on December 9, 2025. The ATX VINyL program is designed to bring volunteers in to play music for patients in the hospital, and Vargas participates as the head volunteer. Lorianne Willett/KUT News

Daniela Vargas, a volunteer for the ATX-VINyL program, wheels a record player to the hospital room of a palliative care patient in Austin, Texas.

Lorianne Willett/KUT News


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The healing power of Country music… and Thin Lizzy

Mansfield wanted to hear country music: Willie Nelson, Merle Haggard, George Jones. That genre reminds her of listening to records with her parents, who helped form her taste in music. Almost as soon as the first record spins, she starts cracking jokes.

“I have great taste in music. Men, on the other hand … ehhh. I think my picker’s broken,” she says.

Other patients ask for jazz, R&B or holiday records.

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The man who gave Jorgensen the idea for ATX-VINyL loved classic rock. That was around three years ago, when Jorgensen, a long-time emergency medicine physician, began a fellowship in palliative care — a specialty aimed at improving quality of life for people with serious conditions, including terminal illnesses.

Shortly after he began the fellowship, he says he struggled to connect with a particular patient.

“I couldn’t draw this man out, and I felt like he was really struggling and suffering,” Jorgensen said.

He had the idea to try playing the patient some music.

He went with “The Boys Are Back in Town,” by the 1970s Irish rock group Thin Lizzy, and saw an immediate change in the patient.

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“He was telling me old stories about his life. He was getting more honest and vulnerable about the health challenges he was facing,” Jorgensen said. “And it just struck me that all this time I’ve been practicing medicine, there’s such a powerful tool that is almost universal to the human experience, which is music, and I’ve never tapped into it.”

Dr. Tyler Jorgensen, a palliative care doctor at Dell Seton Medical Center, holds a Willie Nelson album in an office on December 9, 2025. Ferguson said patients have been increasingly requesting country music and they had to source that genre specifically.

Dr. Tyler Jorgensen plays vinyl records as a form of music therapy for palliative care patients in Austin, Texas. Willie Nelson’s albums are a perennial hit.

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Creating new memories

Jorgensen realized records could lift the spirits of patients dealing with heavy circumstances in hospital spaces that are often aesthetically bare. And he thought vinyl would offer a more personal touch than streaming a digital track through a smartphone or speaker.

“There’s just something inherently warm about the friction of a record — the pops, the scratches,” he said. “It sort of resonates through the wooden record player, and it just feels different.”

Since then, he has built up a collection of 60 records and counting at the hospital. The most-requested album, by a landslide, is Fleetwood Mac’s Rumours from 1977. Willie is also popular, along with Etta James and John Denver. And around the holidays, the Vince Guaraldi Trio’s A Charlie Brown Christmas gets a lot of spins.

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These days, it’s often a volunteer who rolls the record player from room to room after consulting nursing staff about patients and family members who are struggling and could use a visit.

Daniela Vargas, the UT Austin pre-med undergraduate who heads up the volunteer cohort, became passionate about music therapy years ago when she and her sister began playing violin for isolated patients during the COVID-19 pandemic. She said she sees similar benefits when she curates a collection of records for a patient today.

“We are usually not in the room for the entire time, so it’s a more intimate experience for the patient or family, but being able to interact with the patient in the beginning and at the end can be really transformative,” Vargas said.

Often, the palliative care patients visited by ATX-VINyL are near the end of life.

Jorgensen feels that the record player provides an interruption of the heaviness those patients and their families are experiencing. Suddenly, it’s possible to create a new, positive shared experience at a profoundly difficult time.

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“Now you’re sort of looking at it together and thinking, ‘What are we going to do with this thing? Let’s play something for Mom, let’s play something for Dad.’” he said. “And you are creating a new, positive, shared experience in the setting of something that can otherwise be very sad, very heavy.”

Other patients, like Pamela Mansfield, are working painstakingly toward recovery.

She has had six neck surgeries since April, when she had a serious fall. But on the day she listened to the George Jones album, she had a small victory to celebrate: She stood up for three minutes, a record since her most recent surgery.

With the record spinning, she couldn’t help but think about the victories she’s still pursuing.

“It’s motivating,” she said. “Me and my broom could dance really well to some of this stuff.”

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Video: Who Is Trying to Replace Planned Parenthood?

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Video: Who Is Trying to Replace Planned Parenthood?

new video loaded: Who Is Trying to Replace Planned Parenthood?

As efforts to defund Planned Parenthood lead to the closure of some of its locations, Christian-based clinics that try to dissuade abortions are aiming to fill the gap in women‘s health care. Our reporter Caroline Kitchener describes how this change is playing out in Ames, Iowa.

By Caroline Kitchener, Melanie Bencosme, Karen Hanley, June Kim and Pierre Kattar

December 22, 2025

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Weather tracker: Further flood watches issued across California

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Weather tracker: Further flood watches issued across California

After prolonged heavy rainfall and devastating flooding across the Pacific north-west in the past few weeks, further flood watches have been issued across California through this week.

With 50-75mm (2-3in) of rainfall already reported across northern California this weekend, a series of atmospheric rivers will continue to bring periods of heavy rain and mountain snow across the northern and central parts of the state, with flood watches extending until Friday.

Cumulative rainfall totals are expected to widely exceed 50mm (2in) across a vast swathe of California by Boxing Day, but with totals around 200-300mm (8-12in) possible for the north-western corner of California and western-facing slopes of the northern Sierra Nevada mountains.

Los Angeles could receive 100-150mm (4-6in) of rainfall between Christmas Eve and Christmas Day, which could make it one of the wettest Christmases on record for the city. River and urban flooding are likely – particularly where there is run-off from high ground – with additional risks of mudslides and rockslides in mountain and foothill areas.

Winter storm warnings are also in effect for Yosemite national park, with the potential for 1.8-2.4 metres (6-8ft) of accumulating snow by Boxing Day. Heavy snow alongside strong winds will make travel very difficult over the festive period.

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Golden Gate Bridge is covered with dense fog near Fort Point as rainy weather and an atmospheric river hit the San Francisco Bay Area on Saturday. Photograph: Anadolu/Getty Images

Heavy rain, lightning and strong winds are forecast across large parts of Zimbabwe leading up to Christmas. A level 2 weather warning has been issued by the Meteorological Services Department from Sunday 21 December to Wednesday 24 December. Some areas are expected to see more than 50mm of rainfall within a 24-hour period. The rain will be accompanied by hail, frequent lightning, and strong winds. These conditions have been attributed to the interaction between warm, moist air with low-pressure systems over the western and northern parts of the country.

Australia will see some large variations in temperatures over the festive period. Sydney, which is experiencing temperatures above 40C, is expected to tumble down to about 22C by Christmas Day, about 5C below average for this time of year. Perth is going to see temperatures gradually creep up, reaching a peak of 40C around Christmas Day. This is about 10C above average for this time of year.

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