Agreement to Purchase The Assets of Kenwood Vineyards

24 Apr 2014 --- Pernod Ricard announces that its subsidiary Pernod Ricard USA has entered into an agreement with F. Korbel & Bros. to purchase assets related to Kenwood Vineyards located in Sonoma Valley, California.

Kenwood produces a distinguished portfolio of premium Sonoma wines, primarily distributed in the United States and Canada.

This acquisition reflects both Pernod Ricard's confidence in the development of its wine portfolio and its ambitions in the United States, the largest market of the Group.

Bryan Fry, Chief Executive Officer of Pernod Ricard USA, stated: “thanks to its long heritage and premium positioning within the well-known Sonoma region, Kenwood offers a unique brand proposition that will strengthen the position of Pernod Ricard’s wine business in the United States.”

Commenting on this transaction, Pierre Pringuet, Chief Executive Officer of Pernod Ricard, added: “Kenwood will support the company's ambition in wine and fits ideally within Pernod Ricard’s multi-origin wine portfolio strategy. In addition, this transaction illustrates Pernod Ricard’s ability to seize tactical growth opportunities that can benefit our entire portfolio in key markets such as the United States.”

The acquisition is expected to close before 30 June 2014.