Pernod Ricard has completed its acquisition of Kenwood Vineyards in California.

The deal, first announced last month, will see Pernod take control of the Sonoma Valley-based property from F Korbel & Bros. Established in 1970, Kenwood has 23 acres of vineyards. 

just-drinks understands that Pernod has paid in the region of US$100m for the company's winery, vineyards and IP rights.

The deal, confirmed yesterday (21 May), has completed ahead of schedule as Pernod previously said it expected to finalise the transaction by the end of next month.

Kenwood sells around 500,000 cases of wine per year, almost solely in the US.

Pierre Pringuet, Pernod's CEO, said the buy reflects the group's “ambitions in the US”, one of its key wine markets.