Accolade Wines is in merger negotiations, Who will take over the production of Australian wines
The production of Australian wines Accolade Wines is being negotiated for peeling by a powerful company. The Australians are in talks with both Pernod Ricard and Australian Vintage.
According to the first reports since the resignation of Australian Vintage (AVG) CEO Craig Garvin, merger talks with Accolade Wines have not been affected by this sudden departure. However, drinks industry news portal Drinks Business quoted an Australian Vintage manager, Simon Mawhinney, as saying: “I think this could encourage Accolade to get a better deal than would otherwise be possible.”
The investment would be worth A$500 million (approximately $330 million) and would include well-known international brands such as Jacob’s Creek, St Hugo, Stoneleigh, George Wyndham and Brancott Estate.
According to reports from Australia, the acquisition talks between Accolade and Pernod Ricard are so advanced that the deal could be completed by the end of May, this year. However, Pernod Ricard representatives did not comment.
This potential transaction could bring significant benefits for both parties involved. For Accolade Wines, expanding its portfolio with world-renowned brands could strengthen its position on the global wine market, while Pernod Ricard could capitalize on this sale to focus its resources on other strategic segments. In addition, consumers could benefit from greater diversity and improved products, resulting in a richer consumer experience. So, all signs point to the fact that this merger could be a resounding success.