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Pernod Ricard, the French spirits and wine group, has completed the sale of Kenwood Vineyards to the Heck family, the owners of Korbel Champagne Cellars. The transaction marks the return of the Sonoma-based winery to the Heck family, who previously owned the brand for 18 years between 1996 and 2014.
Founded in 1970, Kenwood Vineyards is situated in the Sonoma Valley and is noted for its premium wine portfolio and its “Artist Series” Cabernet Sauvignon. The Heck family originally sold the business to Pernod Ricard in 2014 as the French firm sought to expand its premium wine presence in the USA.
Gary Heck, chairman and owner of Korbel Champagne Cellars, stated: “Kenwood Vineyards has always held a special place in our family’s history […] We are thrilled to bring it back into our portfolio and continue its legacy of producing exceptional Sonoma County wines”.
The financial terms of the deal were not disclosed. According to Pernod Ricard, the divestment is part of its ongoing “proactive portfolio management” strategy, which is aimed at focusing resources on its priority brands and markets.
Source: Pernod Ricard / Korbel Champagne Cellars (via PR Newswire)
