SONOMA VALLEY -- F. Korbel & Bros., which makes the Kenwood and Korbel brands, today said it has called off its previously announced sale of the 550,000-case-a-year Kenwood Vineyards brand and winery to New York-based Banfi Vintners.
In late March, F. Korbel announced it was in negotiations to sell Kenwood to Banfi to focus resources on the Korbel brand of methode champenoise sparkling wine plus brandy. The decision to sell came after several months of strategic review, according to F. Korbel. The company will continue to own and operate the winery.
A spokeswoman declined to comment further, citing confidentiality agreements.
Gary Heck, owner and president of F. Korbel, acquired Kenwood in 1999, when it was a 300,000-case-a-year brand. Kenwood Vineyards started in 1970.