Pernod Ricard has completed the sale of its portfolio of international wines to Accolade Wines owner Australian Wine Holdco Limited.

The combination of wine assets has led to the creation of a new global wine company, Vinarchy.

Pernod Ricard will continue to distribute this wine portfolio for a few months to facilitate a smooth transition. The Absolut Vodka owner said the disposal will enable the business to focus on premium international spirits and champagne brands to drive future growth.

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The transaction includes the sale of a wide portfolio of strongly established wine brands owned by Pernod Ricard, with over 10 million cases produced annually from three regions of origin.

These include Jacob’s Creek, Orlando and St Hugo from Australia, Brancott Estate, Stonleigh and Church Road from New Zealand, and Campo Viejo, Ysios, Tarus and Azpilicueta from Spain.

The business is an integrated platform from vineyard to bottle and includes seven wineries.

Pernod Ricard first unveiled plans to sell the bulk of its wine business to the owners of Australia’s Accolade Wines in July 2024, as it said it aimed to provide greater opportunities for premiumization. In the year to June 2023, the drink giant’s wine sales totalled just 4% of its overall sales.