Kenwood Vineyards has been sold to French wine and spirits leader Pernod Ricard, which owns brands such as Absolut vodka, Beefeater gin and Jameson Irish whiskey.
The still winery, owned by Guerneville sparkling winemaker F. Korbel & Bros. since 1999, was purchased by the Paris-based corporation, the company announced April 24, for an undisclosed sum. The sale, which Reuters estimates at less than $100 million, is expected to close by June 30.
The purchase marks Pernod Ricard’s first still winery in California. The company’s U.S. branch is headquartered in New York and also owns Mumm Napa.
Pernod Ricard Winemakers, the premium global wine division of Pernod Ricard, founded in 2010, will manage the Kenwood winery operations.
Margie Healy, vice president of communications at Korbel, said Kenwood had not been up for sale but the French conglomerate approached the sparkling winemakers last year in an effort to expand its wine business in the U.S.