Pernod Ricard sells wine brands and assets for $ 88 million to Lion Nathan
The Lindauer sparkling wine brand is one of the twelve brands of wine sold by Pernod Ricard to Lion Nathan. Photo / Babiche Martens.
Pernod Ricard New Zealand, the local arm of the French liquor company, has sold a dozen wine brands and a few wineries to a joint venture led by Lion Nathan New Zealand for $ 88 million.
Lion Nathan will purchase a dozen new brands of wine, including Lindauer, Corbans and Saints, while his partner Indevin, an independent winemaker, will own Gisborne Winery, select vineyards in the Gisborne region and Twin River Vineyard in Hawke’s . The Bay.
The sale is subject to Overseas Investment Office approval after the Japanese beverage maker Kirin Holdings took over Lion Nathan for AU $ 3.4 billion last year.
“We remain very committed to New Zealand, our people and the long-term development of our wine and spirits portfolio,” said Fabian Partigliani, Managing Director of Pernod Ricard NZ, in a statement.
Pernod Ricard NZ, which produces luxury alcohol brands including Absolut Vodka and Chivas Regal whiskey, will retain ownership of the local brands Brancott Estate, Church Road, Deutz and Stoneleigh, while divesting low-cost brands like Aquila, Bernadino and Thistle as part of the Lion accord.
The sale aims to streamline production of the French company’s brand portfolio, the statement said.