Australia-based Accolade Wines has acquired Fine Wine Partners (FWP), the wine business of Lion.

Financial details of the deal have not been divulged.

Lion has been owned by Japanese brewery Kirin Holdings since 2009.

It owns beer brands such as XXXX, Boags and Tooheys, reported thedrinksbusiness.com.

The latest purchase will comprise six wine brands; Petaluma, Croser, St Hallett, Knappstein, Stonier, and Tatachilla, in addition to four wineries in Australia.

The deal also comprises facility and equipment, vineyards, inventory and the on and off-premise distribution network.

FWP’s facilities in McLaren Vale, Mornington Peninsular and Adelaide Hills Barossa Valley are part of this purchase.

Lion will continue to own its US and New Zealand wine businesses in addition to the assets of Wither Hills and the sparkling Te Hana.

Owned by a private equity firm CHAMP, Accolade plans to launch an initial public offering (IPO) in 2017 to raise approximately $1bn, reported businessinsider.com.au.

Accolade also reportedly plans to construct a bottling plant with an investment of around $40m in the Riverland region of Australia.