Pernod Ricard exits sells Mumm Napa, Kenwood assets in strategic U.S. wine exit
Pernod Ricard exits key U.S. wine assets, selling Mumm Napa and Kenwood to Trinchero and Korbel to sharpen focus on premium spirits and champagne growth.
USA – Pernod Ricard has completed the sale of its California sparkling wine brands and Kenwood winery operations, marking a significant shift in its U.S. wine strategy as it refocuses on higher-growth categories.
The French beverage group confirmed it finalized the sale of its Mumm Napa sparkling wine business to Trinchero Family Wine and Spirits.
The transaction includes the Mumm Sparkling California and DVX brands but excludes the G.H. Mumm champagne label and other international Mumm operations. Financial terms of the deal were not disclosed.
In a separate transaction, Pernod Ricard has also divested its Kenwood winery in Sonoma, California, to F Korbel & Bros. The deal includes approximately 20 acres of vineyards, production facilities, a visitor centre, and the Kenwood trademarks.
A Pernod Ricard spokesperson stated, “These transactions are fully aligned with our long-term strategy to focus on premium international spirits and champagne while streamlining our operational footprint.”
Kenwood, acquired by Pernod Ricard in 2014, has been a longstanding producer of premium Sonoma wines since 1970, with distribution largely concentrated in the U.S. market. Its sale represents another step in the company’s gradual exit from still and sparkling wine assets, following the divestment of its international wine portfolio in April 2025.
The company emphasized that reallocating resources toward core segments will strengthen its ability to deliver sustainable value. “We remain committed to disciplined portfolio management and investing in categories where we have strong global leadership,” the spokesperson added.
For Trinchero Family Wine and Spirits, the acquisition enhances its already expansive portfolio, which includes more than 50 wine and spirits brands. A company representative noted, “The addition of Mumm Napa strengthens our position in the premium sparkling wine category and reinforces our long-standing presence in Napa Valley.”
Founded in 1948, Trinchero has grown into one of the largest wine producers in the United States through vineyard investments, innovation, and strategic partnerships.
Meanwhile, F Korbel & Bros sees the acquisition of Kenwood as an opportunity to expand its footprint in premium still wines. A Korbel representative said, “Kenwood is a respected name in Sonoma, and this acquisition complements our broader portfolio while supporting our growth ambitions.”
The divestments come amid slower growth in the global alcoholic beverage market, driven by shifting consumer preferences and economic pressures. Against this backdrop, Pernod Ricard and Brown-Forman confirmed on March 26 that they are in discussions regarding a potential merger.
Pernod Ricard’s exit from most of its U.S. wine business underscores a broader industry trend, as major beverage companies streamline portfolios and prioritize premium, high-margin segments where they maintain competitive advantage.
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