A report out of Australia this week has mooted a return to the negotiating table for the owners of Vinarchy and for Australian Vintage.
The pair had previously discussed a merger back in February last year, when Accolade Wines, the precursor business to Vinarchy, and Australian Vintage confirmed they were exploring the possibility. Accolade withdrew from the talks in May, shortly after which the group agreed to acquire the bulk of Pernod Ricard’s wine assets, including the Brancott Estate, Campo Viejo and Jacob’s Creek brands.
The newly-enlarged business, owned by a consortium of private investor companies, was christened Vinarchy last month.
In an article earlier this week, The Australian referenced “speculation about attempts [by Vinarchy] to revisit a potential backdoor listing of the business into Australian Vintage”. While no specific sources were cited, the article noted the appointment three weeks ago by Australian Vintage of Tom Dusseldorp as its next CEO.
Dusseldorp, who moved up from CCO to replace Craig Garvin, spent six years with Pernod Ricard, from 2008 to 2014.
“It would be plausible that Mr Dusseldorp would consider a merger between Australian Vintage and Accolade Wines, because he knows the former well,” The Australian said, claiming also that Australian Vintage’s shareholders “have been searching for an exit”.
In its most recent results, announced in February, Australian Vintage booked a 7.4% decline in sales from the six months to the end of December.
