FRANCE/US: Pernod Ricard snaps up Kenwood Vineyards
Pernod Ricard has lined up the purchase of Kenwood Vineyards in the US.
The company, which also released its nine-month sales figures earlier today (24 April), confirmed that it will acquire Sonoma Valley-based Kenwood from F Korbel & Bros. Financial details were not disclosed.
“This acquisition reflects both Pernod Ricard's confidence in the development of its wine portfolio and its ambitions in the US, the largest market of the group,” Pernod said.
CEO Pierre Pringuet added: “This transaction illustrates Pernod Ricard’s ability to seize tactical growth opportunities that can benefit our entire portfolio in key markets such as the US.”
The purchase is expected to close by the end of June.
Pernod's wine portfolio includes Argentina's Graffigna, Australia's Jacob's Creek, New Zealand's Brancott Estate and Spain's Campo Viejo.
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