By Andrew Starke
A total of 12 brands were off loaded to Lion Nathan New Zealand for what analysts believe was a bargain price of NZ$88 million (about A$67 million).
Lindauer has the highest profile of those changing stable with Lion Nathan securing exclusive distribution rights from November 1.
In a statement on its wensite the company said: “Pernod Ricard announces the disposal, by its subsidiary Pernod Ricard New Zealand, of Lindauer and several other New Zealand wine brands from Gisborne and Hawke’s Bay together with their related inventories and assets to a consortium of buyers made up of Lion Nathan New Zealand and Indevin for a cash consideration of NZ$88 million (circa €47 million).”
The closing of the transaction is subject to the New Zealand Overseas Investment Office’s clearance.
Pernod Ricard will continue to own and operate the Brancott Estate and Deutz brands in New Zealand.
The former’s 2010 vintage of Brancott Estate Marlborough Sauvignon Blanc was recently made available in Australia.
The Montana brand name was changed to Brancott Estate in September.