Banfi Vintners, the Long Island-based importer of Castello Banfi and other Italian wines, Concha y Toro Chilean wines and more, signed a letter of intent to buy Sonoma’s Kenwood Vineyards from F. Korbel & Bros., given the importer its first California label, Shanken Daily News reported.
In an exclusive interview with Shanken News Daily, Korbel owner Gary Heck and Banfi chief operating officer Marc Goodrich confirmed the sale. Pending the completion of due dilegence the sale would close in June.
The deal, Shanken reported, would include Kenwood’s estate, winery, vineyards and other assets. kenwood produces mor ehan a half millionc ases annually. Banfi, of Old Brookville,N.Y., plans to integrate Kenwood’s sales team into the Banfi organization, placing the brand into the same portfolio as Riunite, Castello Banfi, Bolla and the other brands.
Banfi’s owners, the Mariani family, purchased Pacific Rim Winemakers, a Washington state riesling brand,in 2010, but it is operated separately, according to Shanken.