Will Pernod Ricard sell its wine division?

The Bloomberg economics news channel reports that, according to people familiar with the subject, Pernod Ricard SA is considering the sale of its wine division, which includes the Australian Jacob’s Creek and Spanish Campo Viejo labels.

Pernod Ricard reportedly told Bloomberg in an e-mail that it would not comment on the speculations, adding that “the group has not been subject to any external pressure and has already mentioned on several occasions that it intends to continue the dynamic management of its portfolio”.

Alexandre Ricard, its CEO, has said that the company is “committed” to growing value sales over volume sales. “Our wine volume sales are down by 8% due to our value-focused strategy, which we’re not afraid of pursuing,” he said.