Accolade Wine parent company, Australian Wine Holdco Limited (AWL), has acquired Pernod Ricard’s Australian, New Zealand, and Spanish wine portfolio for an undisclosed sum. Subject to regulatory approvals, the deal is expected to be finalised in 2H CY25.
AWL said it intends to merge the Pernod Ricard business, including 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, with Accolade.
The deal includes seven wineries.
Pernod Ricard said the sale would strengthen its premiumisation strategy and allow it to focus on its portfolio of spirits and champagne brands.
The company had recorded a drop in sales, with its 1H24 showing an 11 per cent fall in strategic wine brands sales in the US, UK, and Canada.
Accolade Wines brands include Hardys, Grant Burge, Banrock Station, St Hallett and Petaluma, Mud House, Dolly Wines, Jam Shed, J-Harden and Wise Wolf by Banrock Station.
Accolade was acquired by AWL, a consortium led by Bain Capital buying out its debt and taking over in February.
There had been talks of a merger with Australian Vintage earlier in the year, with Accolade walking away in May, around the time it was reported that the company had entered negotiations with Pernod Ricard.
Bain Capital partner and AWL spokesperson, Joshua Hartz, said that combining Accolade Wines with the Pernod Ricard assets would create a more financially sustainable future for the business.
“Both Accolade Wines and Pernod Ricard have a long, proud history as world-class wine producers,” he said.
“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.”
AWL has stated that the combined business will have a more diversified portfolio of complementary old and new world wine labels, and operations in every continent.
