The world is awash with unloved wine, it seems. Not only does the industry serially produce millions of bottles more than are consumed around the globe, but the ‘for sale’ signs are going up in every direction.

Just before Christmas, Constellation announced that it is offloading 80% of its Australian, UK and South African wine operations. Less than a week earlier, Brown-Forman announced that it is considering selling its Fetzer wine brand. Meanwhile, Foster’s Group has let it be known that its own Australian wine unit – or what is left of it following some seismic restructuring – can be had at the right price.

Meanwhile, French wine and spirits giant Pernod Ricard has spent the last 12 months pruning its wine arm, albeit to a lesser degree, ditching Lindauer in New Zealand and several assets in Spain. In Europe more generally, the European Commission is urging winemakers to rip out their vines in return for financial compensation. Even Champagne has not escaped the guillotine, with Remy Cointreau intent on selling its Piper-Heidsieck and Charles Heidsieck brands.

It has become commonplace to depict the winery as a place where money can be filtered from fools. As one industry veteran told just-drinks today (5 January): “People fall in love with the wine industry because they think it’s romantic, but it’s bloody hard work to make money.”

Many of the drinks industry’s big hitters are losing faith in wine, faced by wild exchange rates, promiscuous and bargain-savvy consumers and the ongoing saga of global overproduction. Companies cling notionally to consumer education, but cynicism has long (...)