Some of Australia’s best-known wine brands, including Jacob’s Creek and St Hugo, have been sold off as part of a deal between two of the world’s biggest wine producers.
Pernod Ricard, a Paris-based company, has agreed to offload a majority of its wine portfolio to Australian Wine Holdco Limited (AWL), a consortium of international institutional investors that own Accolade Wines.
As part of the deal, AWL will take on wine brands produced in Australia, Spain and New Zealand, which includes labels like Jacob’s Creek, George Wyndham and Campo Viejo.
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In a statement today, Pernod said the move will allow the company to focus on its spirits and champagne portfolio, which includes Absolut Vodka and Mumm.
“With this transaction, Pernod Ricard will sell its wine division to a player of global scale, with a route to market solely dedicated to the wine industry,” the statement reads.
“Its wine brands will benefit from the focus required to achieve their potential, reinforce their position, and seize new opportunities around the world.”
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AWL spokesperson Joshua Hartz said the deal will help strengthen the global wine industry.
“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,” Hartz said in a statement.
“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.”
Pernod did not disclose a price but said over 10 million cases of wine were sold annually.
The deal is expected to be finalised in the second half of 2025, subject to regulatory approval.
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