Pernod Ricard strengthens its wine division

Monday April 28 2014 by Vitisphere

By consolidating its vineyards and wine brands within a specialized subsidiary (Pernod Ricard Winemakers), Pierre Pringuet, Pernod Ricard’s CEO, clearly showed the Group's intent: To grow its wine business, which two years ago only represented 10% of the Group's turnover.   This week’s announcement of the acquisition of Kenwood Vineyards in California supports Pernod Ricard’s strategy.  "Kenwood Vineyards fits ideally with the multi-origin strategy of our wine portfolio.  Pernod Ricard is able to strengthen its portfolio of brands in the U.S. market, now the world's biggest market for wine ", commented Pierre Pringuet.  Kenwood Vineyards takes its name from the small village in Sonoma Valley where the estate is located.  Founded in 1970, it was one of the pioneers of Sonoma Valley wine.  Gary Heck took over the company in 1998, increasing production from 350,000 to 600,000 cases.  Kenwood is renowned for the quality of its Cabernet Sauvignons.  Its premium range also includes Chardonnay, Zinfandel, Merlot and Sauvignon Blanc varietals. The wines sell at between $ 10- $ 45 a bottle in the U.S. and Canada.  Talking to Wine Spectator, Jeff Agdern, vice president of Pernod Ricard USA, commented "Kenwood will be the cornerstone of our wine business in the U.S."  He does not rule out the possibility that Pernod Ricard might buy other wine businesses in the U.S., adding, "We aim to become a leading supplier of premium wines in the United States."

The purchase of Kenwood Vineyards includes the brand name, stocks, winery facilities and four wine properties. Pernod Ricard is estimated to have paid around € 70 million.  

Pernod Ricard Winemakers includes Jacob's Creek (Australia), Brancott Estate and Stoneleigh (New Zealand), Campo Viejo (Spain), Graffigna (Argentina) and, from 1st July, Kenwood Vineyards (California).


Copy the code :
© Vitisphere 2020 - Tout droit réservé