Jacob's Creek owner Pernod Ricard has signed a deal to buy Kenwood Vineyards in California as it looks to premium wine to help it achieve 'critical mass' in the US.
The France-based spirits and wine giant said it has agreed to buy Sonoma Valley-based Kenwood's winery, brand rights and around 100 hectares of vineyards from F Korbel & Bros. A fee was not told.Pernod Ricard is looking to increase its presence in the US and its acquisition comes in the same week that Wine Institute facts show that sales of California wines in the country rose by 5% in 2013, to an estimated retail value of $23.1bn. 'We had a weakness in the US market, where we did not have a critical mass,' a Pernod spokesperson told Decanter.com. 'We needed to buy a US brand and this is why we have identified Kenwood Vineyards.'This acquisition will bring synergies and we will be able to develop the
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