Pernot Ricard sells wine division to Accolade Wines owner

Pernod Ricard is selling on its international strategic wine brands to Australian Wine Holdco Limited (AWL), a consortium of international institutional investors and the owner of Accolade Wines.

This disposal, for an undisclosed sum, is aimed at allowing Pernod Ricard to strengthen its premiumisation strategy and to direct its resources to its portfolio of spirits and Champagne brands that drive the growth of its business.

The France-based drinks supplier, encompassing brands including Absolut vodka, Jameson Irish whiskey and Havana Club rum, said that its wine arm sale is the result of its continuous strategic opportunities assessment, in line with its policy to deliver sustainable value for its shareholders, employees, clients and partners.

The transaction includes the sale of wine brands owned and produced by Pernod Ricard Winemakers, 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.

The sale is expected to be finalised during H1 2025, subject to the fulfilment of customary closing conditions, including regulatory clearances.

Last year, Pernod Ricard’s UK managing director David Haworth retired after a 34-career with the company.

Julia Massies, the then chief financial officer of Pernod Ricard EMEA and LATAM, replaced him in the role.

Image of Jacob’s Creek Chardonnay courtesy of Pernod Ricard, CC BY-SA 3.0 via Wikimedia Commons