Famous Australian wine labels being divested.

In a major business move, some of the most well-known wine brands in Australia, such as Jacob's Creek and St Hugo, have been acquired by a consortium of international investors. This deal was made between two of the largest wine producers in the world, Pernod Ricard, based in Paris, and Australian Wine Holdco Limited, which owns Accolade Wines.

Under the terms of the deal, AWL will now take over the production and distribution of wine brands from Pernod Ricard in Australia, Spain, and New Zealand. This includes popular labels like Jacob's Creek, George Wyndham, and Campo Viejo. Pernod Ricard, on the other hand, will be able to focus on its spirits and champagne portfolio, which includes renowned brands like Absolut Vodka and Mumm.

In a statement released today, Pernod Ricard expressed its confidence in this move, stating that it will allow the company to fully dedicate its resources to its core products. "With this transaction, Pernod Ricard will sell its wine division to a global player who specializes in the wine industry," the statement read. "This will provide our wine brands with the necessary focus to reach their full potential and thrive in the global market."

Meanwhile, AWL's spokesperson Joshua Hartz also shared his excitement about this acquisition, stating that it will strengthen the global wine industry. "By combining Accolade Wines with Pernod Ricard's assets, we will create a more stable and financially sustainable future for our business," Hartz said. "This will enable us to better serve our customers and expand our presence in different segments and regions."

The price of this deal was not disclosed by Pernod Ricard, but it is estimated that over 10 million cases of wine are sold under these brands every year. The finalization of this acquisition is expected to take place in the second half of 2025, subject to regulatory approval.

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