One of the world’s biggest booze makers is ditching wine brands as the world drinks less | CNN Business

Pernod Ricard is selling most of its wine brands, as wine consumption is falling globally, and will instead focus on growing its champagne and premium spirits labels, including in the United States.

The French group — which owns Absolut Vodka, Jameson Whiskey, Olmeca Tequila and Beefeater Gin — announced the sale of seven wineries in Australia, New Zealand and Spain Wednesday, saying it would allow the company to direct more resources to its premium spirits and champagne brands, which “drive the growth of its business.”

The sale to Australian Wine Holdco Limited, a consortium of international investors, will see

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