French drinks company Pernod Ricard could sell off Jacob’s Creek and other Australian brands before the end of the year, according to a report in The Australian Financial Review.
“Pernod Ricard, the world’s second-largest wine and spirits producer, has mandated two investment banks to conduct a strategic review of its Australia and New Zealand business, which is expected to lead to a change of control before the end of the year,” the newspaper says.
“Sale flyers are slated to hit inboxes in late October, sources said.”
Pernod Ricard put Jacob’s Creek and other wine brands up for sale in 2019 but nothing came of it.
The Australian Financial Review says Australia and New Zealand is “a drop in the ocean” for Paris-based Pernod Ricard, which posted a 13 percent rise in reported net sales to €12.14 billion ($20.11 billion) in the last financial year.
Australian brands in the Pernod Ricard Winemakers portfolio include Jacob’s Creek and St Hugo.
New Zealand brands include Brancott Estate, Church Road and Stoneleigh.
The mothership Pernod Ricard has 18,500 employees across the world and owns 240 brands including Jameson, Beefeater London, Chivas Regal, Malibu, GH Mumm, Perrier-Jouet, Kahlua, Ostoya Vodka and Absolut.
In January another Paris-based company, Moet Hennessy sold the elite winery Cape Mentelle to Endeavour Group.
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Is Pernod Ricard about to sell Jacob’s Creek and other wine brands?
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