By Sherry Qin

The owner of wine brands including Hardys and Jacob's Creek is combining former Pernod Ricard assets into a new company to take on some of the world's biggest vintners.

Australian Wine Holdco on Wednesday announced the creation of Vinarchy, a company built around the assets of wholly-owned Accolade Wines with the Australian, New Zealand and Spanish wine businesses formerly owned by Pernod Ricard.

Paris-based wine and spirits seller Pernod Ricard completed the sale of a wine portfolio including the Jacob's Creek and Campo Viejo brands to AWL on Wednesday.

AWL--a consortium of investors comprising funds backed by Bain Capital Special Situations, ICG and others--took ownership of Australian wine producer Accolade in February last year.

The group said Vinarchy will be one of the world's largest specialized wine makers, with annual net sales of more than 1.5 billion Australian dollars, equivalent to US$957.3 million, and over 1,600 staff globally.

The new company is headed by executive chairman Ben Clarke, who led Accolade through the planning phase for the merger of with Pernod Ricard Winemakers.

Vinarchy's board is in the advanced stages of selecting a chief executive officer and expects to formalize an appointment soon, it said.

Vinarchy steps onto the scene as global wine consumption is on the decline. The International Organisation of Vine and Wine said earlier this month that 2024 wine sales fell to the lowest level since 1961.

"The global wine industry faces serious structural challenges," Clarke said, referring to changing consumer preferences and a shift to lower-alcohol drinks. "Vinarchy will be bold and imaginative in meeting these challenges."

Write to Sherry Qin at sherry.qin@wsj.com

(END) Dow Jones Newswires

April 30, 2025 05:31 ET (09:31 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.