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Pernod Ricard has announced the sale of its strategic wine brands to the owners of Accolade Wines to focus on the premium spirits and champagne market.
The deal, announced on Wednesday, will see one of the world’s largest distillers offload high-profile brands including Jacob’s Creek, Orlando and St Hugo to Australian Wine Holdco Ltd, a consortium of investors. No financial details on the deal were disclosed.
In a statement, the French group said the sale would allow it to “direct resources” to its portfolio of premium international spirits and champagne brands that drive the growth of the business.
“The transaction is the result of Pernod Ricard’s continuous assessment of its strategic opportunities,” it added.
Australian Wine Holdco is a consortium backed by Bain Capital, Intermediate Capital Group, Capital Four, Sona Asset Management and Samuel Terry Asset Management.
Pernod Ricard said: “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.” It added that its wine bands would “benefit from the focus required to achieve their potential, reinforce their position, and seize new opportunities around the world.”
The disposal comes after Pernod Ricard reported a fall in strategic wine sales in its third quarter, mainly due to declines in the US and the UK.
The deal is subject to regulatory clearance and is expected to occur during the second half of 2025.
