Pernod Ricard Completes the Sale of Mumm Napa Sparkling Wine Activities in the United States and Announces the Sale of Kenwood, Furthering the Streamlining of Its Wine Operations in California

PARIS--(BUSINESS WIRE)--Regulatory News:

Pernod Ricard (Paris: RI)

Press release – Paris, April 1st 2026

Following satisfaction of closing conditions and in line with the previous press release of December 16, 2025, Pernod Ricard today confirms the successful completion of the disposal of Mumm sparkling wine activities (excluding champagne) in the United States, covering Mumm Sparkling California, Mumm Napa and DVX to Trinchero Family Wine and Spirits.

Alongside this transaction, Pernod Ricard has finalized the sale of its Kenwood winery operations, located in Sonoma, California, and associated trademarks to F. Korbel & Bros, the leading California sparkling wine producer established in 1882. Kenwood produces a wide range of premium awarded Sonoma wines, primarily distributed in the United States. The agreement includes the sale of circa 20 acres of high-quality vineyards, its production facilities and visitor centre.

These transactions will enable Pernod Ricard to continue focusing its resources on its portfolio of premium international spirits and champagne brands, in line with the divestment of its strategic international wines in April 2025. Both transactions further support the streamlining of the Group’s wine operational footprint in California.

It reflects Pernod Ricard’s continuous assessment of its strategic opportunities and active portfolio management, in line with its longstanding policy to deliver sustainable value for its shareholders, employees, clients and partners.

About Pernod Ricard
Pernod Ricard is a worldwide leader in the spirits and wine industry, blending traditional craftsmanship, state-of-the-art brand-building, and global distribution technologies. Our prestigious portfolio of premium to luxury brands includes Absolut vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur and Mumm and Perrier-Jouët champagnes. Our mission is to ensure the long-term development of our brands with full respect for people and the environment, while empowering our employees around the world to be ambassadors of our purposeful, inclusive and responsible culture of authentic conviviality. Pernod Ricard’s consolidated sales amounted to €10,959 million in fiscal year FY25. Pernod Ricard is part of the CAC 40 index.

About Korbel
Established in 1882 in Sonoma County's Russian River Valley, Korbel Champagne Cellars produces the United States' most popular méthode champenoise champagne. But the true measure of Korbel's success during its 144 years can be seen in the impact it's had on American consumers and its presence at various celebrations throughout the years. Owned and managed by the Heck family since 1954, Korbel currently makes a range of California champagnes and a limited amount of still wine. Korbel also produces one of the country's most respected brandies.

About Trinchero Family Wine and Spirits
A family-owned company for more than 75 years, Trinchero Family Wine and Spirits comprises more than 50 award-winning wine and spirits brands distributed globally. Founded in 1948 – when Italian immigrants Mario and Mary Trinchero moved their young family from New York City and purchased the Sutter Home winery in St. Helena – Trinchero Family Wine and Spirits remains rooted in Napa Valley. From these humble beginnings Trinchero has grown to become one of the five largest US wineries through strategic partnerships and investments in technology and vineyards, all while maintaining a steadfast commitment to quality, value, sustainability and philanthropy. Learn more at www.tfewines.com.