Pernod Ricard has sold Lindauer and several other unnamed New Zealand wine brands to a consortium including Lion Nathan for NZD88m (US$66m).

Lindauer and several wine brands from the Gisbourne and Hawke’s Bay areas of New Zealand, as well as stock and fixed assets, are included in the sale. The consortium of buyers consists of Kirin Holdings-controlled Lion Nathan and Indevin, Pernod said today (18 October).

Pernod has moved to streamline its New Zealand wine operations during a particularly difficult period for the industry. Oversupply has seen the sector struggle to maintain the value of exports in the last couple of years.

Pernod Ricard retains a significant presence in New Zealand’s wine industry via its Brancott Estate brand, previously named Montana. The sale of Lindauer is subject to regulatory approval.

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