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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