Pernod Ricard sells its 90 million litres of non-premium wines to Accolade Wines

July 29, 2024

The international wine and spirits group, parting ways with Jacob’s Creek, Brancott Estate, and Campo Viejo, is pivoting towards premiumisation, reflecting increased competition and declining consumption in the mass-market wine industry.

Focusing on the luxury segment, the group is divesting all its brands under the Pernod Ricard Winemakers division, which includes 7 wineries producing 90 million litres of wine. This includes Australian labels such as Jacob’s Creek, Orlando, and St Hugo, New Zealand brands Stoneleigh, Brancott Estate, and Church Road, as well as Spanish labels Campo Viejo, Ysios, Tarsus, and Azpilicueta.

Pernod Ricard asserts a strategic shift towards luxury at the expense of the mass market, “this divestiture will allow Pernod Ricard to reinforce its premiumisation strategy […] in line with its policy of creating sustainable value for its shareholders, employees, customers, and partners.” mentioned Pernod Ricard press release.