Thursday 23 May 2019

Is Pernod Ricard about to sell Jacob’s Creek and other wine brands?

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Strong rumours are circulating in the Australian wine industry that French company Pernod Ricard is about to sell its wine brands including Jacob’s Creek.

WBM can’t confirm the rumours. One wine business analyst said this morning that it is “game on”.

Several potential suitors are believed to be sizing-up Jacob’s Creek.

We approached Brett McKinnon, global operations director at Pernod Ricard Winemakers, for a comment. Pernod Ricard emailed this response: “Pernod Ricard does not comment on market rumours.

“The Group has already mentioned several times that it intends to continue the dynamic management of its portfolio, remaining one of the consolidators of the sector as recalled by our CEO Alexandre Ricard during the H1 financial communication.

“In accordance with this strategy, the Group regularly assesses every available opportunity: tactical acquisitions as proved by the recent acquisition of the Italian gin Malfy, or divestment of brands, through one criterion in particular, i.e. their capacity to create or continue to create value for the business. In this context, any other comment would be mere speculation.”

Bloomberg said in March: “Pernod Ricard is considering a sale of its wine division, which includes Australia’s Jacob’s Creek and Spain’s Campo Viejo labels, according to people familiar with the matter.”

Bloomberg also said at the time that its wine operation “is less profitable than its roster of spirits brands”.

Pernod Ricard wine brands include Jacob’s Creek, St Hugo, Church Road, Stoneleigh and G.H Mumm.

Jacob’s Creek is the number one bottled wine brand in Australia and the number one premium Australian wine brand in 17 international markets.

The website says one million glasses of Jacob’s Creek are enjoyed every day across the globe.

Know anything? Email info@madiganmedia.com.au

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