Pernod Ricard sells off Lindauer brand

Pernod Ricard has sold its Lindauer New Zealand sparkling wine brand to a consortium composed of brewer and drinks distributor Lion Nathan New Zealand and contract winemaker Indevin.

The NZ$88 million deal includes other minor wine brands from Gisborne and Hawkes Bay.

Lion Nathan produces Steinlager and Speight’s beers and distributes leading brands including Smirnoff and Bacardi in New Zealand.

Indevin operates wineries in Marlborough and Hawkes Bay.

Meanwhile, elsewhere in the New Zealand wine industry, Delegat’s Wine Estate is reported to be in the process of buying out the remaining shares in Oyster Bay. It already has a 54.9% stake in the business.