As well as the namesake wine brand, Korbel, which is located around 30 miles west of Kenwood, will also assume ownership of Kenwood’s vineyards – covering around 20 acres – production facilities and visitor centre. Financial details were not released by either party, although local reports have set the sale price at US$4m.
Speaking exclusively to Global Drinks Intel earlier this year, Trinchero’s COO, Corey Beck, provided further colour around the family-owned company’s move for Mumm Napa.
“They’re one of the top five in terms of visitors in Napa Valley,” he told editor Olly Wehring. “They see about 60,000 people a year at their facility. Our direct-to-consumer isn’t as robust as theirs. We can also see an advantage in plugging their wines into our sales team. So, the synergies are incredible.
“More than anything,” Beck added, “there were symbolic reasons for making this purchase. The industry’s facing a lot of headwinds; wineries are selling, and vines are being pulled out. It’s important to show our partners – from our wholesalers to our employees and our customers – that we’re in it for the long haul.”
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