Pernod Ricard is acquiring Sonoma, Calif.-based winery Kenwood from the maker of Korbel champagne for an undisclosed amount.
Kenwood produces wines including Cabernet Sauvignon, Sauvignon Blanc, Chardonnay, Merlot, Zinfandel and Moscato. The deal includes Kenwood's brand, vineyard and winery facilities.
The deal allows Paris-based Pernod Ricard, which sells wine and spirits, to expand in the U.S.
"We see continued growth in the wine and champagne category in the USA, and we are focused on seizing opportunities to help us grow our share ahead of competition," says Bryan Fry, CEO of Pernod Ricard USA. Pernod Ricard USA is the largest subsidiary of the parent company, and owns the Perrier-Jouet Champagne, Mumm Napa sparkling wine, Jacob's Creek, Bancott Estate, Absolut Vodka, Jameson Irish Whiskey and Beefeater Gin and Malibu Kahlua Liqueur brands.
Kenwood is being sold by F. Korbel & Bros., which is known for its California champagne and wine.
The news follows a November announcement that private equity firm Bacchus Capital had formed BCM Wineworks to represent three wineries Sbragia Family Vineyards, Delille Cellars and Madrigal Family Winery.