Kenwood Sale Terminated
KENWOOD, Calif. — The deal to sell Kenwood Vineyards to Banfi Vintners has been terminated, according to F. Korbel and Bros., which owns the 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; under the F. Korbel and Bros. stewardship, it grew to more than 550,000 in 2011.