Australian Wine Holdco Limited (AWL) has welcomed the Australian Competition and Consumer Commission's (ACCC) decision to grant merger clearance for the combination of Accolade Wines with Pernod Ricard's Australian, New Zealand and Spanish wine businesses.
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Pernod Ricard has confirmed the signing of the much anticipated agreement to sell a majority of its wine brands to Australian Wine Holdco (AWL), the consortium which owns Accolade.
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Pernod Ricard, the world's second-largest wine and spirits seller, is reportedly relinquishing three of its most-prized wine assets.
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Generating more than £1.1 billion in off-trade sales alone in the UK each year, Australia is clearly a category to be reckoned with, continuing to lead its nearest rivals Italy, France and the US by quite some degree. In the on-trade, too, while sitting in a far more modest third position, the country racked up a further £366 million worth of sales in 2016, adding another sizeable dose of Down Under flavour to the British wine scene.
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