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Pernod Ricard New Zealand Announces Sale Of Lindauer And Other Associated Brands To Lion Nathan New Zealand

Contributor:
Fuseworks Media
Fuseworks Media

Pernod Ricard New Zealand announces it has today entered into an agreement to sell selected Gisborne and Hawke's Bay wine brands and assets to Lion Nathan New Zealand and their joint venture partner Indevin.

Following a review of the New Zealand business, Pernod Ricard New Zealand has decided to refocus its wine strategy behind its core strategic brands and therefore has streamlined its brand portfolio and production footprint.

Pernod Ricard New Zealand is selling twelve brands to Lion Nathan New Zealand, while Lion Nathan's joint venture partner Indevin, will take ownership of the Gisborne Winery, all company owned vineyards in the Gisborne region and the Twin River's vineyard in the Hawke's Bay region. The sale is subject to Overseas Investment Office approval.

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

Managing Director for Pernod Ricard New Zealand, Fabian Partigliani comments "We remain highly committed to New Zealand, our people and the long term development of our wine and spirits portfolio, including leading New Zealand wine brands Brancott Estate, Stoneleigh, Church Road, Deutz, Boundary and Triplebank".

Lion Nathan will have an exclusive distribution arrangement in New Zealand with Pernod Ricard New Zealand for the twelve brands effective 1 November 2010, which will be in place pending the completion of the sale.

Peter Kean, Managing Director of Lion Nathan New Zealand, noted "Lindauer is an iconic New Zealand wine brand, and as such will be an excellent fit into our distribution portfolio. We look forward to working with the team to build the Lindauer profile in the New Zealand market."

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