Pernod Ricard has secured the divestment of virtually all of its wine operations after an agreement was reached late yesterday with the owner of Accolade Wines.
Australian Wine Holdco, the name given to the investor consortium that took control of Accolade earlier this year, will acquire Pernod Ricard’s “international strategic wine brands”. The deal, expected to complete by June 2025, is for an undisclosed sum although Global Drinks Intel understands the cost is in the hundreds of millions of dollars.
Included in the sale are all of Pernod Ricard’s wine assets in Australia, New Zealand and Spain. Among the brands heading to Accolade are:
- Jacob’s Creek, Orlando and St Hugo from Australia
- Stoneleigh, Brancott Estate and Church Road from New Zealand, and
- Campo Viejo, Ysios, Tarsus and Azpilicueta from Spain.
Pernod Ricard will retain the likes of Kenwood and Mumm Napa Vineyards in the US, Bodega Etchart in Argentina and the recently-bolstered Château Sainte Marguerite in France’s Provence region.
“This disposal will allow Pernod Ricard to further strengthen its premiumisation strategy and to direct its resources to its portfolio of premium international spirits and champagne brands that drive the growth of its business,” the group said today.
The news comes about ten months after the most recent speculation surfaced regarding Pernod Ricard’s openness to a possible wine sale. In May of this year, meanwhile, Accolade pulled out of merger negotiations with Australian Vintage with industry observes linking Pernod Ricard’s position to Accolade’s withdrawal.
