Pernod Ricard Completes U.S. Wine Divestments with Sales of Mumm Napa and Kenwood Winery
Pernod Ricard has finalized the sale of its U.S. Mumm sparkling wine business to Trinchero Family Wine and Spirits and completed the sale of its Kenwood winery operations to F. Korbel & Bros, continuing its strategic focus on premium international spirits and champagne.
Pernod Ricard has formally completed two major divestments in California, finalizing the sale of its U.S. Mumm sparkling wine business to Trinchero Family Wine and Spirits and selling its Kenwood winery operations to F. Korbel & Bros. The transactions, announced on October 15, 2026, mark a key step in the spirits group's ongoing strategic streamlining of its wine assets in the region.
Under the terms of the completed agreement with Trinchero Family Wine and Spirits, Pernod Ricard has transferred its U.S. non-champagne sparkling wine operations, which encompass Mumm Sparkling California, Mumm Napa, and DVX. This transaction fulfills closing conditions that followed an initial announcement made on December 16, 2025. Trinchero, a Napa Valley-based business founded in 1948, ranks among the five largest wineries in the United States and manages over 50 wine and spirits brands worldwide.
Concurrently, Pernod Ricard concluded the sale of its Kenwood winery operations in Sonoma, California, along with associated trademarks, to F. Korbel & Bros. Established in 1882, Korbel is a leading producer of California sparkling wine. The Kenwood divestment encompasses approximately 20 acres of high-quality vineyards, production facilities, and a visitor centre. Kenwood's portfolio of premium Sonoma wines is primarily distributed across the U.S. commercial market.
Pernod Ricard stated that both transactions align with its broader strategy to reallocate corporate resources toward its portfolio of premium international spirits and champagne brands. This strategic shift follows the company's prior divestment of strategic international wines in April 2025. Pernod Ricard, which reported consolidated sales of €9,404 million in FY26, continues to actively manage its portfolio to drive long-term value. Financial terms for both California transactions were not provided in the company's official announcement.
For the global beverage industry, these disposals underscore a broader commercial trend toward portfolio rationalization, with major wine and spirits conglomerates offloading regional wine assets to focus resources on higher-margin global premium spirits and core champagne labels. Concurrently, domestic producers such as Trinchero and Korbel expand their scale and production infrastructure in key California appellations.
Key facts
- Pernod Ricard completed the sale of U.S. Mumm sparkling wine activities (Mumm Sparkling California, Mumm Napa, DVX) to Trinchero Family Wine and Spirits.
- Pernod Ricard finalized the sale of Kenwood winery operations, including roughly 20 acres of vineyards, production facilities, and a visitor centre, to F. Korbel & Bros.
- The divestments follow Pernod Ricard's April 2025 sale of strategic international wines and aim to concentrate resources on premium international spirits and champagnes.
- Pernod Ricard reported consolidated sales of €9,404 million in FY26.
- Financial terms for the Mumm Napa and Kenwood transactions were not disclosed.
Why it matters
The disposals highlight a broader industry strategy among spirits multinationals to streamline operational footprints and shift capital toward high-margin global premium spirits and core champagne brands, while enabling major domestic operators to strengthen their holdings in California wine regions.
- Pernod Ricard — Media — 2026-10-15: “Pernod Ricard completes the sale of Mumm Napa sparkling wine activities in the United States and announces the sale of Kenwood, furthering the streamlining of its wine operations in California”
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