US: F. Korbel and Bros. to Sell Kenwood Vineyards to Banfi Vintners
US: F. Korbel and Bros. to Sell Kenwood Vineyards to Banfi Vintners
Mar 31, 2012 6
(BUSINESS WIRE) -- After several months of strategic review, Gary B. Heck, President and Owner of F. Korbel & Bros., has agreed to explore the sale of Kenwood Vineyards as well as its related assets in Sonoma County to Banfi Vintners, one of the country’s leading wine marketers. Mr. Heck’s decision to sell Kenwood will allow him to focus the time and resources of his company on the best opportunities for growth with Korbel California champagne and brandy which have been in his family since 1954.
“After experiencing the worst recession in 70 years, the California wine business is emerging from this difficult period in good shape and it seemed an opportune time to explore the sale of Kenwood Vineyards,” remarked Gary B. Heck, President and Owner, F. Korbel and Bros. “This will allow us to focus the company’s resources on its leading California champagne and brandy business.”
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