Sales at Accolade Wines fell by almost £40m in the UK in the final year before the Australian vintner merged with Pernod Ricard’s international wine business, newly filed accounts at Companies House show.
Vinarchy UK (formerly known as Accolade Wines Limited) generated revenues of £422.4m in the year ended 30 June 2025, down 8.4% from £461.1m the year prior.
Losses before tax shrunk drastically from £103.9m in FY2024 to just £6.4m in FY2025, However, this was driven by the absence of significant one-off charges – including almost £94m of impairments related to brands, goodwill and group undertakings in the year prior – rather than an underlying improvement in performance. EBITDA fell by 8.7% from £6.3m in FY25 vs £6.9m in FY24.
Meanwhile, the business also recorded a one-off £8.0m hit from the introduction of extended producer responsibility (EPR) regulations in the UK, as well as £2.2m in other, unspecified restructuring costs.
Performance was impacted by a number of factors including “the cost of living crisis, UK alcohol duty reforms, and increased shipping costs due to rerouting around the Cape of Good Hope following the closure of the Suez Canal”, Vinarchy UK director Amanda Almond said.
EBITDA had “remained broadly flat due to a strategy of prioritising profitability and sustainability over volume”, Almond added.
Australia Hold Co, the owner of Accolade Wines, completed the acquisition of Pernod Ricard’s international wine business last April for an undisclosed sum, creating a new global wine business called Vinarchy.
The business boasts Accolade wine brands such as Hardys, Mud House and Jam Shed, as well as former Pernod labels Brancott Estate, Campo Viejo and Jacob’s Creek.
However, Pernod Ricard maintained responsibility for selling its wines in the UK until at least the end of the two companies’ respective financial years, The Grocer understands.
In November, Vinarchy revealed it was to cull a slew of brands from its portfolio to focus on those capable of driving “long-term category growth”.
“We are… rationalising our low-volume, non-core labels that no longer resonate with consumers or align with our growth plans,” Vinarchy boss Danny Celoni told The Grocer.
The majority of labels at risk were “no longer trading or in single markets or channels in very small volumes”, Celoni said, adding the move would enable greater focus on brands capable of driving “long-term category growth”.
Last month, the business announced a major relaunch for Jacob’s Creek in the UK.
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