The Australian Competition and Consumer Commission (ACCC) has granted merger clearance for the combination of Accolade Wines with Pernod Ricard’s Australian, New Zealand and Spanish wine businesses.
Australian Wine Holdco Limited (AWL) – a consortium of international institutional investors which owns the merged entity – has welcomed the decision.
“We have worked closely with all stakeholders to progress this combination and today’s milestone takes us a step closer,” AWL spokesperson Joshua Hartz says.
“Importantly, management are focused on preparations for a smooth integration of the businesses once the deal completes.”
Both Accolade Wines and Pernod Ricard have a long, proud history as world-class wine producers.
“Combining Accolade Wines with the Pernod Ricard assets will create a more certain and financially sustainable future for the business, allowing us to better serve our customers, in more segments and more geographies.
“Backed by AWL, the combined business will be better able to adapt to changing consumer tastes and meet the structural challenges facing the global wine industry.”
The transaction remains subject to other customary closing conditions, which need to complete before the businesses can be combined.
The Pernod Ricard assets to be included in the combined business comprise a wide portfolio of well-known and loved international brands operated by Pernod Ricard Winemakers with over 10 million nine-litre cases produced annually from three origins.
These include 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 assets are an integrated platform from vineyard to bottle including seven wineries.
Accolade Wines is a fully integrated business, managing the entire supply chain from grape to glass.
Accolade’s rich portfolio is made up of distinguished wine brands including Hardys, Grant Burge, Banrock Station, St Hallett and Petaluma, and modern, innovative wine brands such as Mud House, Dolly Wines, Jam Shed, J-Harden and Wise Wolf by Banrock Station.
Headquartered in Australia, Accolade Wines draws on a proud winemaking heritage including Hardys founded in 1853, to become a world-leader in premium and commercial wines.
AWL is a consortium of international institutional investors which comprises funds backed by Bain Capital Special Situations, ICG, Capital Four, Sona Asset Management and Samuel Terry Asset Management.
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