- Pernod Ricard announced the signing of an agreement to sell its wine brands.
- The buyer is Australian Wine Holdco Limited (AWL), a consortium of international institutional investors and the owner of Accolade Wines.
The transaction covers several world-famous wine brands. Jacob's Creek is probably the most famous band among them. Others include Kenwood Vineyards and Bodegas Campo Viejo. These are wines from Australia, New Zealand and Spain.
The Jacob's Creek wine brand will change ownership
The buyer is a consortium of financial investments Australian Wine Holdco Limited (AWL), which includes, among others: Bain Capital and Capital Four. The purchase price was not disclosed. The transaction comes at a time when the global wine market is under pressure from changing consumer preferences and growing competition. While consumers enjoyed, for example, a bottle of good wine during Covid-19, they are now limiting such purchases.
Pernod Ricard focuses on expensive drinks in its portfolio from categories such as vodka, whisky, cognac and champagne. According to the producer, wine is losing market share – this is happening in Western markets, but consumption in China, once a fast-growing wine market, is also shrinking.
The wine industry around the world is struggling with excess supply, which is forcing producers to even destroy vines.
