Pernod Ricard to sell international wine brands to Accolade Wines owner

(Sharecast News) - Pernod Ricard said on Wednesday that it has agreed to sell its international strategic wine brands to Australian Wine Holdco Limited (AWL), a consortium of international institutional investors and owner of Accolade Wines. Financial details were not disclosed but the French drinks company said the disposal will allow it 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 transaction includes the sale of a wide portfolio of international wine brands owned and produced by Pernod Ricard Winemakers, with over 10 million 9Lcs cases annually from three origins including 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 said that through the sale, its wine brands will benefit from "the focus required to achieve their potential, reinforce their position, and seize new opportunities around the world".