Pernod Ricard has introduced the sale of its strategic wine manufacturers to a consortium of institutional buyers and the proprietor of Accolade Wines because it switches focus to the premium spirits and champagne market.
The deal, introduced on Wednesday, will see one of many world’s largest distillers offload manufacturers together with Jacob’s Creek, Orlando and St Hugo from Australia. No monetary particulars on the deal have been disclosed.
In an announcement, the French group stated the sale would enable it to “direct sources” to its portfolio of premium worldwide spirits and champagne manufacturers that drive the expansion of the enterprise.
“The transaction is the results of Pernod Ricard’s steady evaluation of its strategic alternatives,” it added.
The disposal comes after Pernod Ricard reported a 7 per cent fall in gross sales of strategic wines within the first quarter of this yr, primarily pushed by a decline of Jacob’s Creek in India and Campo Viejo within the US.
