Australian Wine Holdco Ltd buys Pernod Ricard wines

Australian wine brands have struck a global deal with two of the world's largest drink producers.

Transcript

00:00At this stage we know that Pernod Ricard has agreed to sell its international wine brands

00:05to Australian Wine Hold Co Ltd and this consortium is the owner of Accolade Wines which has brands

00:11here in South Australia like Hardy's Wine in McLaren Vale and Bamrock Station in the

00:16Riverland and Pernod Ricard will be selling its Australian brands like Jacobs Creek, Orlando

00:21and St Hugo.

00:22It will also be selling their New Zealand and Spanish brands which include wines like

00:26Stonely and Campo Viejo.

00:28Now Pernod Ricard says that it will be making this sale so that it can focus on its champagne

00:32and spirit portfolios.

00:34Now they have some pretty significant spirit brands like Absolute Vodka, Beef Eater Gin

00:39and also Jamison Whiskey among plenty of others and it says that this consortium AWL is a

00:45global player with a dedication to the wine market and they say that these wine brands

00:49will benefit from that specific focus.

00:52We know that this comes at a time where we've seen significant issues like the global red

00:56wine glut and in Australia that's come from things like the now lifted Chinese wine tariffs

01:02and also just a change in consumer habits as well in terms of how people are drinking

01:06wine.

01:07This deal will still be subject to regulatory clearances but Pernod Ricard says that he'll

01:11expect to close the deal next year.