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Australian Wine Holdco, a consortium that owns the country’s second-largest wine producer, Accolade Wines, has snapped up French liquor giant Pernod Ricard’s international wine brands.
The move comes on the heels of an abandoned merger proposal announced earlier this year between Accolade Wines and Australian Vintage (ASX: AVG), the listed company that produces McGuigan, Tempus Two and Nepenthe wines.
Australian Wine Holdco’s acquisition includes a broad portfolio of established international wine brands owned and produced by Pernod Ricard Winemakers. Financial details of the deal have not been disclosed.
The French group, known for the apéritifs Pernod Anise and Ricard Pastis, produces more than 10 million nine-litre cases of wine a year comprising 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 described as an integrated platform from vineyard to bottle and includes seven wineries.
Pernod Ricard says the sale will strengthen its premiumisation strategy with the proceeds of the sale to be used to resource the company’s portfolio of premium international spirits and champagne brands.
“The transaction is the result of Pernod Ricard’s continuous assessment of its strategic opportunities, in line with its longstanding policy to deliver sustainable value for its shareholders, employees, clients and partners,” says the company.
Pernod Ricard says that under the ownership of Australian Wine Holdco its global wine brands “will benefit from the focus required to achieve their potential, reinforce their position and seize new opportunities around the world”.
Australian Wine Holdco is backed by a consortium comprising Bain Capital, Intermediate Capital Group, Capital Four, Sona Asset Management and Samuel Terry Asset Management.
The company acquired Accolade in February this year from UK-based Carlyle Group, giving it control of premium brands such as Hardys, Petaluma and Grant Burge.
While plans were laid to merge Accolade Wines with Australian Vintage earlier this year, the proposal was abandoned by Accolade on 22 May in the wake of the shock sacking of then CEO Craig Garvin just two weeks earlier.
Australian Wine Holdco is expected to settle the acquisition of Pernod Ricard’s wine assets in the second half of 2025, pending regulatory approvals.
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