Some of Australia's best-known wine brands have been offloaded by their French owner to a consortium with strong local links.
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Pernod Ricard announced overnight in Paris the sale of of the majority of its portfolio of international wine brands, including the Barossa Valley-based Jacob's Creek, Orlando and St Hugo.
The buyer is Australian Wine Holdco Limited, a consortium of international institutional investors whose backers include the private equity firm Bain Capital.
The consortium also owns Accolade Wines, one of the world's biggest wine companies, which holds the Hardys, Grant Burge, and Petaluma brands - amongst others.
Each year, the Pernod portfolio produces millions of cases of wine from Jacob's Creek, Orlando and St Hugo, Stoneleigh, Brancott Estate and Church Road from New Zealand, and Campo Viejo, Ysios, Tarsus and Azpilicueta from Spain.
The sale is due to be completed in the first half of 2025.
Australian Associated Press
