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Pernod Ricard offloads wine brands, vineyards in Argentina

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Pernod Ricard has confirmed the sale of a raft of wine assets in Argentina to Chile's VSPT Wine Group.

The transaction between Pernod Ricard and VSPT includes two vineyards in Argentina

The transaction between Pernod Ricard and VSPT includes two vineyards in Argentina

The transaction, announced at the start of this year, sees three wine brands, one winery and two vineyards move across from Pernod Ricard Argentina to VSPT. The assets comprise the Graffigna, Colón and Santa Silvia brands, the Graffigna winery and its vineyards in San Juan province, and La Consulta vineyard in Mendoza's Uco Valley.

The disposal, for an undisclosed sum, was announced locally on 3 January.

"Pernod Ricard Argentina has decided to focus the company's Argentinean resources on wine and sparkling wine production in the Salta and Mendoza wineries and the spirits production in the Buenos Aires plant to develop their full potential and produce a defined set of strategic brands," the company said.

VSPT will absorb the assets into its wine business, which includes seven vineyards in Chile as well as Finca La Celia and Bodega Tamarí in the Mendoza region of Argentina.

The divestment will complete later this year.

Almost exactly a year ago, VSPT, which is majority-owned by Chilean brewer Compania Cervecerias Unidas, sold a 12.5% stake to China's Yanghe Distillery Co in a transaction worth US$65m. CCU has a 67.2% holding in the wine company.

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