Pernod Ricard has struck a deal to transfer ownership of its sparkling wine activities in the US to Trinchero Family Wine and Spirits.
The deal covers its Mumm Sparkling California, Mumm Napa and DVX labels, but does not include ownership of the GH Mumm Champagne brand.
Mumm sparkling wines were “among the category leaders in North America” and a “significant and strategic addition to the Trinchero portfolio”, Pernod Ricard said in a statement.
Upon completion, Trinchero will assume exclusive rights to manufacture and produce Mumm sparkling wines (excluding champagne) in the US and market and distribute them across the US, Canada, Mexico and select Caribbean markets.
It will also assume ownership of the Mumm Napa winery and its sparkling wine production facilities in Napa Valley.
The deal – expected to complete next spring – would “enable Pernod Ricard to continue focusing its resources on its portfolio of premium international spirits and champagne brands”, the Paris-headquartered group said.
It reflected the company’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”, it added.
It comes after reports earlier this year that Pernod Ricard was mulling the sale of the GH Mumm brand.
Pernod Ricard sold its strategic international wines portfolio to the owner of Accolade Wines earlier this year as part of its efforts to reorient towards premium spirits.
It retained ownership of champagne brands GH Mumm and Perrier-Jouët, however.
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