Pernod Ricard to sell bulk of wine portfolio to Accolade Wine owners

LONDON (Reuters) – Pernod Ricard (EPA:) said on Wednesday it agreed to sell the majority of its wine portfolio to the owners of Australia’s Accolade Wines, disposing of a dragging division to focus on its core business of spirits.

The world’s No.2 western spirits maker plans to sell its wine brands from Australia, New Zealand and Spain, including well-known brands like Jacobs Creek, Stoneleigh and Campo Viejo, subject to regulatory approvals. It did not disclose a price.