Pernod Ricard is shedding its three Australian-made wine brands as part of an agreement to sell its portfolio of strategic international wines to Australian Wine Holdco, a consortium of international institutional investors and owner of Accolade Wines.

The deal will encompass 11 international wine brands owned and produced by Pernod Ricard Winemakers, including Jacob's Creek, Orlando and St Hugo from Australia, Stoneleigh, Brancott Estate and Church Road from New Zealand and Campo Viejo, Ysios, Tarsus and Azpilicueta from Spain. The international wine business, which produces more than 10m million 9L cases annually, is an integrated platform from vineyard to bottle and includes seven wineries.

Australian Wine Holdco will merge Pernard Ricard's international portfolio with Accolade Wines to create a global wine business. Accolade Wine's existing portfolio includes Hardys, Grant Burge, and Petaluma, Mud House and Jam Shed

Pernod Ricard did not confirm the value of the transaction, but noted the "disposal" would allow the company "to further strengthen its premiumization strategy and to direct its resources to its portfolio of premium international spirits and champagne brands that drive the growth of its business". It attributed the decision to the "continuous assessment of its strategic opportunities, in line with its longstanding policy to deliver sustainable value for its shareholders, employees, clients and partners".

The transaction is expected to close during H1 2025, subject to fulfilment of customary closing conditions, including regulatory clearances.