On Wednesday, Pernod Ricard announced its plan to offload the majority of its international wine portfolio to Australian Wine Holdco Limited (AWL).

As a part of the deal, AWL will take control of 10 wine brands including Australia’s Jacob’s Creek, Orlando, and St. Hugo; New Zealand’s Stoneleigh, Brancott Estate, and Church Road; and Spanish brands Campo Viejo, Ysios, Tarsus, and Azpilicueta. The sale also includes seven wineries. While no financial terms of the deal were disclosed, Pernod Ricard confirmed in a press release that the 10 brands collectively sell over 10 million 9-liter cases per year.

In addition to retaining control of Champagne houses Perrier-Jouët and Mumm, Pernod Ricard will also maintain ownership of U.S. brands Kenwood and Mumm Napa, as well as Pacific-based brands Mumm Marlborough, Mumm Tasmania, and Mumm Central Otago. The conglomerate will also continue to hold several labels from Argentina and China under their umbrella.

“With this transaction, Pernod Ricard will sell its wine division to a player of global scale, with a route to market solely dedicated to the wine industry,” a Pernod Ricard spokesperson said in the release. “Its wine brands will benefit from the focus required to achieve their potential, reinforce their position, and seize new opportunities around the world.”

The transaction comes after years of speculation regarding the future of Pernod’s wine division, as sales have continued to fall over the past decade. During the fiscal year ending in June 2023, wine sales made up only 4 percent of Pernod Ricard’s total sales, a 2-percent decline year-over-year. By comparison, the conglomerate’s international spirits portfolio swelled by 11 percent last year, with brands such as Absolut, Chivas, Jameson, and Beefeater driving sales.

“This disposal will allow Pernod Ricard 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,” the brand expressed in the release.

The deal is expected to close in the second half of 2025.

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