Recent reports from Australian media outlets suggest ongoing discussions between Accolade Wines and Pernod Ricard concerning the latter’s wine assets in Australia. Despite these speculations, neither company has elected to comment. Pernod Ricard’s portfolio in the region includes notable brands such as Brancott Estate and Stoneleigh in New Zealand, and St Hugo, Jacobs Creek, and George Wyndham in Australia. This news follows shortly after an investor consortium’s acquisition of Accolade Wines, aimed at securing its long-term future, with Pernod Ricard’s Australian division previously mentioned as a possible partner. In a related development, Australian Vintage, known for McGuigan wines, announced the termination of CEO Craig Garvin’s contract due to alleged conduct issues; however, this has not disrupted preliminary discussions between Pernod Ricard and Australian Vintage. In September, Pernod Ricard commenced a strategic review with assistance from investment banks for its businesses in both Australia and New Zealand. Meanwhile, for the financial year 2023, Pernod Ricard acknowledged a slight organic net sales decline in its strategic wine category. Accolade Wines, on the other hand, sold off several assets recently, including brands and properties, and has also been navigating industry challenges such as wine overproduction and adverse market conditions exacerbated by factors like Chinese tariffs and a global slowdown in wine consumption. Nonetheless, Pernod Ricard expanded its footprint in France with the acquisition of the Aux Terres de Ravel estate in CĂ´tes-de-Provence, adding prestigious brands to its collection.

Beverage, Mergers and Acquisitions,Australia, New Zealand, France

https://mergersacquisitions.einnews.com/article/711114994/dYv4JiSHCdRfpwif?ref=rss&ecode=Q1vNcweEggLWKz7L