Pernod Ricard Finalizes Sale of Mumm Napa and Kenwood Winery

In a move that signals a continued retreat from the still and sparkling wine market, beverage giant Pernod Ricard has officially offloaded major portions of its California holdings.

The company confirmed the finalization of two significant deals: the sale of Mumm Napa sparkling wine activities to Trinchero Family Wine and Spirits, and the sale of its Kenwood winery operations in Sonoma to F. Korbel & Bros.

Pernod Ricard is a worldwide leader in the spirits and champagne industry, boasting a prestigious portfolio that includes heavy hitters like Absolut vodka, Jameson Irish whiskey, and Martell cognac.

With consolidated sales reaching nearly €11 billion in fiscal year 2025, the group’s decision to cut ties with regional wine labels like Kenwood and Mumm Napa isn’t about lack of profit—it’s about ruthless focus.

By shedding these assets, the company is doubling down on its “premium international spirits and champagne” strategy, aiming to funnel resources into brands that offer higher global scalability and better margins.

The buyers in this scenario are legacy players. Trinchero Family Wine and Spirits, a family-owned powerhouse founded in 1948, is picking up Mumm Napa, further cementing its position as one of the five largest wineries in the U.S. Meanwhile, F. Korbel & Bros—a Sonoma staple since 1882—is acquiring Kenwood, along with its 20 acres of high-quality vineyards, production facilities, and visitor centers.

• Strategic Streamlining: Pernod Ricard has been actively pruning its portfolio since at least April 2025, when it began divesting its strategic international wine assets.
• The Buyer Landscape: These acquisitions represent a consolidation of power among family-owned, U.S.-based wine giants. Korbel, specifically, is looking to strengthen its footprint in the premium still wine segment to complement its long-standing dominance in the sparkling wine market.
• The Bottom Line: For Pernod Ricard, this is about “active portfolio management.” For the consumer, it means that the California wine market is becoming increasingly consolidated under a smaller group of specialized American vintners.

Are we witnessing the end of the “conglomerate-era” wine market? Perhaps. As global spirits giants move toward higher-margin, luxury-tier products, the mid-tier regional wine business is being handed off to specialized families and firms that are better equipped to handle the local nuances of vineyard management and tourism.

For Pernod Ricard, the message is clear: if it doesn’t move global needles, it’s off the table.