The sale includes Australian brands Jacob’s Creek, Orlando and St Hugo; New Zealand brands Stoneleigh, Brancott Estate and Church Road; and Spanish brands Camp Viejo, Ysios, Tarsus and Azpilicueta.
The portfolio is being sold to Australian Wine Holdco Limited: is a consortium of international institutional investors which owns Accolade Wines (Accolade Wines’ brands include Hardys, Jam Shed, Grant Burge Wines, Banrock Station and Mud House).
The sale represents the majority of Pernod Ricard's wine portfolio. Describing AWL as 'an ambitious partner fully dedicated to the future success of the wine business', Pernod Ricard says the transaction will allow Accolade to unite a strong portfolio of brands, alongside combined expertise and technology, to create a new, stand-alone, world-leading wine company.
“With this transaction, Pernod Ricard will sell its wine division to a player of global scale, with a route to market solely dedicated to the wine industry,” says a statement from the French spirits giant this morning. “The wine brands will benefit from the focus required to achieve their potential, reinforce their position, and seize new opportunities around the world.”
Pernod Ricard focuses on spirits and champagne
The bulk of Pernod Ricard’s sales come from spirits: with big names such as Absolut vodka, Chivas, Ballentine’s, Jameson, Havana Club, Malibu and Beefeater. This core strategic international portfolio grew 11% in 2023.
These are accompanied by champagne brands such as Perrier-Jouët and Mumm.
However, the strategic wine portfolio only makes up 4% of the company’s sales: with sales down 2% in 2023, attributed to soft performance from Jacob's Creek and Campo Viejo.
The sale relates to Australian, New Zealand and Spanish brands: which tie in with Accolade's existing focus. Pernod Ricard's Kenwood and Mumm Napa brands in the US, as well as the Mumm Terroirs sparkling wine portfolio in the Pacific (Mumm Marlborough, Mumm Tasmania, Mumm Central Otago) will remain part of Pernod Ricard.
The transaction – which remains subject to customary closing conditions including regulatory clearances – is expected to complete in H1 2025.
