The deal to sell Kenwood Vineyards to Banfi Vintners, which was announced at the end of March, is apparently not going to happen. We received this statement from Margie Healy, Vice President, Communications at F Korbel and Bros:
Kenwood (Sonoma Valley), CA, July 30, 2012 – The deal to sell Kenwood Vineyards to Banfi Vintners has been terminated, according to F. Korbel and Bros., which owns the landmark Sonoma Valley winery. Although a letter of intent between the two parties was announced in late March, F. Korbel and Bros. will continue to own and operate the winery.
F. Korbel and Bros. acquired Kenwood Vineyards in its entirety in 1999. At that time, Kenwood was producing less than 300,000 cases and under the F. Korbel and Bros. stewardship, it grew to more than 550,000 in 2011. Founded in 1970, Kenwood has been recognized consistently as a leader dedicated to producing premium wines that capture the best of Sonoma County vineyard character.