FRANCE/NZ: Pernod Ricard completes Lindauer sale
Pernod Ricard sells Lindauer to Lion Nathan, Indevin consortium
Pernod Ricard has sold the New Zealand sparkling wine brand, along with several other New Zealand wine brands and assets, to Kirin Holdings-controlled Lion Nathan and Indevin for NZD89m (US$66m). The French wine and spirits group said today (22 December) that it has completed the deal, following clearance from the New Zealand Overseas Investment Office.
Aside from Lindauer, Pernod did not name the other brands included in the sale, although it did say that the brands come the Gisborne and Hawke's Bay areas.
Pernod Ricard retains a significant presence in New Zealand's wine industry via its Brancott Estate brand, previously named Montana. The Lindauer sale is part of a global effort by the company to streamline its wine assets.
Earlier this year, Pernod announced deals to sell off non-core Spanish wine assets, including the Ambrosio Velasco business and Bodegas Marques de Arienzo. The company has this year created a premium wines business that includes only Brancott Estate, Jacob's Creek, Campo Viejo and Graffigna.
Pernod Ricard's major brands have been absent from shelves at major French retailer E Leclerc for the last three months, amid a price dispute between the two companies....
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