Reported 3 months ago
Pernod Ricard is divesting its wine brands, including Jacob’s Creek and Campo Viejo, as wine consumption continues to fall worldwide. The French company, known for spirits like Absolut Vodka and Jameson Whiskey, sold ten wine brands to Australian Wine Holdco Limited to focus on its premium spirits and champagne, which are driving business growth. This decision aligns with a trend among major distillers pivoting towards more profitable offerings, as global wine demand hit a 27-year low last year.
Source: YAHOO