AWL is a consortium of international institutional investors and owner of Accolade Wines and 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 from Jacob’s Creek, Orlando and St Hugo in Australia, Stoneleigh, Brancott Estate and Church Road in New Zealand and Campo Viejo, Ysios, Tarsus and Azpilicueta in Spain.
With more than 10m cases sold annually, the business is an integrated platform from vineyard to bottle and includes the seven wineries listed above.
The transaction, which is expected to close during the first half of 2025, forms part of Pernod Ricard’s premiumisation strategy. The global drinks manufacturer has said that it plans to direct resources over to its portfolio of premium international spirits and champagne brands that drive the growth of its business.
Aside from wine, Pernod Ricard possesses a portfolio of brands including Absolut vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur and Mumm and Perrier-Jouët champagnes.
Brands will benefit from route to market dedicated to wine
“We will sell our wine division to a player of global scale, with a route to market solely dedicated to the wine industry,” read a Pernod Ricard statement.
“Our wine brands will benefit from the focus required to achieve their potential, reinforce their position, and seize new opportunities around the world.”
AWL spokesperson Joshua Hartz added: “Both Accolade Wines and Pernod Ricard have a long, proud history as world-class wine producers. Combining Accolade Wines with the Pernod Ricard assets will create a more certain and financially sustainable future for the business, allowing us to better serve our customers, in more segments and more geographies. Backed by AWL, the combined business will be better able to adapt to changing consumer tastes and meet the structural challenges facing the global wine industry.
“AWL will work with relevant regulators to progress the combination, and if approved, support management to focus on a smooth future integration of the businesses.”
In other news, adolescents consume around two-thirds of their daily calories from ultra-processed foods, a new study from the Universities of Cambridge and Bristol has found.
