Pernod Acquires Kenwood, Signals More M&A to Come

Dear Client:Pernod Ricard announced this morning that it has agreed to acquire premium California wine brand Kenwood from F. Korbel and Bros. Established in 1970, Kenwood Vineyards' portfolio includes the Vintage Series, Yulupa Series, Sonoma Series, Reserve Series, Jack London Series and Artist Series with prices ranging from $10 to $70. Financial terms were not disclosed. "We had, I would say, one weakness, which was the US, where we did not have the critical mass. And to have the critical