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Pernod Ricard has formalized an agreement for the sale of its strategic international wine brands, including Spanish brands Campo Viejo, Ysios, Tarsus and Azpilicueta, to Australian Wine Holdco Limited (AWL). AWL is a consortium of international institutional investors and owner of Accolade Wines, according to its official statement.
This disposal will enable Pernod Ricard to further strengthen its premiumization strategy and direct its resources to its portfolio of premium international spirits and champagne brands that drive the growth of its business.
The transaction is the result of Pernod Ricard’s ongoing assessment of its strategic opportunities, in line with its long-term policy of delivering sustainable value to its shareholders, employees, customers and partners.
The deal includes the sale of a broad portfolio of strongly established international wine brands owned and produced by Pernod Ricard Winemakers, with more than 10 million cases of 9Lcs 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. The business is an integrated platform from vineyard to bottle and includes seven wineries.
With this transaction, Pernod Ricard will sell its wine division to a global player with a marketing route to market dedicated exclusively to the wine industry. Its wine brands will benefit from the focus needed to fulfill their potential, strengthen their position and seize new opportunities around the world.
Alexandre Ricard, Chairman and CEO of Pernod Ricard, wanted to express the motivation behind this agreement: ‘We are very pleased to have found in Australian Wines Limited, one of the world’s leading wine companies, an ambitious partner, whose strategy will be further strengthened by our promising portfolio. We are convinced that they will build on the success we have sown over the years’.
Closing of the transaction is subject to the satisfaction of customary closing conditions, including regulatory approvals, and is expected to occur during the first half of 2025.