Popular NZ wine brands being sold

French-owned liquor company Pernod Ricard NZ is selling some of New Zealand's best-known wine brands to Japanese-owned Lion Nathan NZ in a deal that requires Overseas Investment Office approval.

Pernod Ricard NZ is selling some of its Gisborne and Hawkes Bay wine brands and assets to Lion Nathan NZ and its joint venture partner Indevin for $88 million cash.

Pernod Ricard is selling 12 brands to Lion Nathan, while Indevin will take ownership of the Gisborne Winery, all company-owned vineyards in the Gisborne region and the Twin Rivers vineyard in Hawkes Bay.

Indevin is an independent contracting winemaker and winemaking service provider, operating two wineries in Marlborough and Hawkes Bay.

The sale includes the sparkling brands Aquila, Bernadino, Chardon, Lindauer and Verde and seven brands in Pernod Ricard's still wine portfolio, including Bensen Block, Corbans, Huntaway, Jackman Ridge, Riverlands, Saints and Timara.

Pernod Ricard NZ managing director Fabian Partigliani said the company would continue in New Zealand with the Brancott Estate, Stoneleigh, Church Road, Deutz, Boundary and Triplebank brands.

Lion Nathan will have an exclusive distribution arrangement in New Zealand with Pernod Ricard NZ for the 12 brands from November 1, in place pending the completion of the sale.

Lion Nathan wine and spirits marketing director Craig Baldie said Lindauer and Corbans were well known brands much like Speight's and Steinlager.

"How can we not be excited about adding these great brands to our portfolio?"

Lindauer is New Zealand's largest and most loved wine brand.

Its addition rounds out our fantastic sparkling wine portfolio and allows us to meet our consumers' needs from `everyday' through to our top end French Champagnes."

Lion Nathan managing director Peter Kean said the deal represented tremendous value for the company.

However, further details of the joint venture arrangement would not be released.

 

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