Australian Wine Holdco Limited (AWL), the consortium of institutional investors, has announced the creation of a new global wine company, Vinarchy. The announcement signals the finalisation of the sale of Pernod Ricard’s international wine portfolio to AWL.
The move will see Vinarchy combine the assets of the AWL-owned Accolade Wines with Pernod Ricard’s former international wine portfolio. The latter’s portfolio includes well-known brands such as Australia’s Jacob’s Creek, New Zealand’s Brancott Estate and Spain’s Campo Viejo.
The creation of the new business means that these former Pernord Ricard assets will be under the same ownership as Accolade Wine brands including leading Australian producer Hardys.
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The vineyards now under Vinarchy’s control amount to 11 wineries across Australia, New Zealand, South Africa and Spain, producing the equivalent of 32 million 9-litre cases of wine per year.
Vinarchy will be led by executive chairman Ben Clarke, who has held a similar role at Accolade Wines since September of last year.
Commenting on the creation of Vinarchy, Clarke believes the new entity can negotiate the challenges the wine sector is facing: “We believe Vinarchy can lead the future of the wine category. We will be a dedicated wine company, with scale, capability, reach, resources, talent, and an exceptional portfolio of leading brands. We want to redefine wine.
“The global wine industry faces serious structural challenges. Global wine consumption has been declining for years, driven by changing consumer preferences and a shift to lower-alcohol drinks.
“Vinarchy will be bold and imaginative in meeting these challenges. With our enhanced scale, brand investment program, innovation capability and industry-leading talent, we believe can meet many of the challenges that the industry faces.”
A CEO for the new company is yet to be announced, however, the board of Vinarchy are touted to be in the advanced stages of selection with a formalised appointed expected soon.