Pernod Ricard has confirmed the official completion of two significant transactions that effectively exit the group from its California-based wine operations. The dual sales of Mumm’s US sparkling activities and the Kenwood winery in Sonoma allow the French beverage giant to further streamline its portfolio and concentrate resources on its core, high-growth segments: premium international spirits and authentic French Champagne.
These moves follow the company’s broader divestment of its strategic international wine portfolio in April 2025, signalling a disciplined approach to portfolio management and a clear focus on high-margin categories.
The Mumm Transaction: Scaling Trinchero’s Sparkling Portfolio
Pernod Ricard has sold its US-based Mumm sparkling wine activities to Trinchero Family Wine and Spirits. It is important to note that this transaction excludes the group’s iconic French Champagne house, G.H. Mumm.
The acquisition by the Napa Valley-based Trinchero includes:
Mumm Napa: A leading producer of premium Napa Valley sparkling wine.
Mumm Sparkling California: The brand’s broader regional offerings.
DVX: Mumm Napa’s ultra-premium flagship label.
For Trinchero, a family-owned company founded in 1948, the acquisition strengthens a portfolio that already exceeds 50 brands. As one of the top five wineries in the US, Trinchero is well-positioned to integrate the Mumm assets into its extensive distribution network and leverage its expertise in the premium sparkling segment.
The Kenwood Transaction: Korbel Expands into Premium Still Wine
In a parallel deal, Pernod Ricard has completed the sale of the Kenwood winery in Sonoma to F. Korbel and Bros. This transaction includes:
Infrastructure: The Kenwood production facilities and a visitor centre.
Assets: Approximately 20 acres of estate vineyards.
Intellectual Property: All Kenwood trademarks and brand assets.
Kenwood has been a staple of the Sonoma wine scene since 1970 and was acquired by Pernod Ricard in 2014. Under the ownership of Korbel—a brand synonymous with American sparkling wine and brandy—Kenwood provides a robust entry into the premium still wine category, allowing Korbel to diversify its footprint in the Sonoma region.
Strategic Rationale: The Pivot to "Prestige"
The completion of these deals reflects Pernod Ricard’s long-term objective of delivering sustainable value by focusing on "Prestige" segments. By shedding still and sparkling wine assets that primarily serve the US market, the group is better positioned to:
Improve Margins: Reallocate capital toward higher-margin spirit categories such as ultra-premium Tequila, Bourbon, and Scotch.
Global Champagne Dominance: Protect and grow its authentic Champagne houses (Perrier-Jouët and G.H. Mumm) without the brand confusion or operational overlap of US-made sparkling wines.
Simplify Operations: Reduce the complexity of its California manufacturing and supply chain footprint.
Industrial Significance and Market Outlook
For B2B stakeholders, the exit of Pernod Ricard from California wine signifies a "professionalisation" of the category by specialist players. As large conglomerates move toward "pure-play" spirits models, heritage wine brands like Kenwood and Mumm Napa are returning to dedicated wine groups like Trinchero and Korbel, who view these assets as core to their growth rather than peripheral.
As Pernod Ricard enters the second half of 2026, the success of this divestment strategy will be measured by its ability to accelerate growth in its remaining "Must-Win" spirit categories. For the buyers, the integration of these well-established California labels provides an immediate boost in the premium retail and "on-premise" dining sectors, where regional authenticity and historical heritage continue to drive consumer preference.
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