AWL, a consortium of international institutional investors and owner of Accolade Wines, will acquire the portfolio for an undisclosed fee.
The deal includes the sale of established wine brands owned and produced by Pernod Ricard winemakers, originating in Jacobs Creek, Orlando and St Hugo in Australia, Stoneleigh, Brancott Estate and Church Road in New Zealand, and Campo Viejo, Issos, Tarsus and Azpilicueta in Spain.
With over 10 million cases sold annually, the business is a fully integrated farm-to-bottle platform, and includes the seven wineries listed above.
The deal, which is expected to close in the first half of 2025, is part of Pernod Ricard’s strategy to strengthen its market position. The global drinks manufacturer said it plans to direct resources to its portfolio of premium global spirits and champagne brands that drive its business growth.
In addition to wine, Pernod Ricard owns a portfolio of brands including Absolut Vodka, Ricard Pastis, Ballantine, Chivas Regal, Royal Salute, Glenlivet Scotch Whisky, Jameson Irish Whiskey, Martell Cognac, Havana Club Rum, Beefeater Gin, Malibu Liqueur, Mumm Champagne and Perrier-Jouët.
Brands will benefit from a dedicated wine market route.
“We will sell our wine division to a global player, with a marketing channel dedicated exclusively to the wine industry,” said a statement from Pernod Ricard.
“Our wine brands will benefit from the focus needed to realise their potential, strengthen their position and seize new opportunities around the world.”
“Both Accolade Wines and Pernod Ricard have long and proud histories as global wine producers,” added AWL spokesperson Joshua Hartz. “Combining Accolade Wines with Pernod Ricard’s assets will create a more certain and financially sustainable future for the company, allowing us to better serve our customers, across more sectors and more geographies. With AWL’s support, the combined company will be better able to adapt to changing consumer tastes and address the structural challenges facing the global wine industry.”
“AWL will work with relevant regulators to progress the merger process and, if approved, will support management to focus on seamless business integration going forward.”
In other news, teens consume about two-thirds of their daily calories from ultra-processed foods, according to a new study from the Universities of Cambridge and Bristol.
