Pernod Ricard sells wine division

Pernod Ricard, the world's second-largest wine and spirits company, is selling most of its wine brands to the owners of Accolade Wines who own many of the big Australian wine brands, including Hardy’s.

Pernod Ricard not only produces Pernod Anise and Ricard Pastis it claims to be number 1 in the premium spirits category with 240 brands such as Jameson's Irish Whiskey, Beefeater Gin, Havana Club Rum and owns 13 Scotch malt distilleries. The wine brands that it is selling include Jacob's Creek, Brancott Estate, Stoneleigh, Campo Viejo, Ysios, Tarsus, Aura, Azpilicueta and Siglo. In total, Pernod Ricard sells 90 million bottles of wine a year.

The sale of the wine division will be to Australian Wine Holdco the owners of Accolade Wine.