Pernod Ricard has agreed to divest its U.S.-based Mumm Napa sparkling wine operations to Trinchero Family Wine & Spirits, marking another step in the French group’s shift away from non-core wine assets. The definitive agreement, announced on December 16, 2025, transfers the Mumm Napa, Mumm Sparkling California, and DVX brands, along with the landmark winery and production facilities in Rutherford, Napa Valley. The transaction, expected to close in spring 2026 subject to regulatory approvals, explicitly excludes the historic G.H. Mumm Champagne house in France and other international Mumm activities.
For Trinchero, a family-owned company rooted in Napa Valley since 1948 and one of America’s top five wine producers by volume, the acquisition represents a low-risk, high-efficiency entry into premium domestic sparkling. Rather than building a brand from scratch in a category that rewards patience and infrastructure, Trinchero secures established scale, on- and off-premise distribution, a loyal wine club, and immediate consumer recognition. Mumm Napa ranks third in California sparkling wine production by volume, behind Korbel and Domaine Chandon, with recent annual output around 334,000 cases—down from a 2021 peak of 410,000 cases. The portfolio spans accessible offerings at $18–$20 retail to premium cuvées exceeding $100, including Brut, Rosé, Blanc de Blancs, and Blanc de Noirs styles.
Trinchero will gain exclusive U.S. production rights for these non-Champagne sparkling wines and distribution across the United States, Canada, Mexico, and select Caribbean markets. Winemaking is set to continue seamlessly, sourcing from established grower partners such as Devaux Ranch in Carneros. “Mumm Napa brings meaningful scale, distribution strength, and brand equity to our portfolio,” said Trinchero president and CEO Bob Torkelson.
The sale aligns with Pernod Ricard’s premiumization strategy, but also highlights a structural reality: domestic U.S. sparkling wines, even successful ones, lack the pricing moat and global prestige of true Champagne. Facing rising domestic grape, labor, and operational costs without the protected designation’s margin buffer, Mumm Napa had become a high-quality but increasingly costly outlier in Pernod Ricard’s portfolio. The deal effectively completes the group’s withdrawal from mainstream U.S. wine activities, following the earlier divestment of most international wine holdings—including Jacob’s Creek, Brancott Estate, and Campo Viejo—to Vinarchy. Spirits continue to drive superior profitability for the group amid challenging wine market conditions.
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This transaction also puts to rest earlier speculation from February 2025 that Pernod Ricard might divest the entire G.H. Mumm brand, including its flagship Champagne house. By retaining the French operation—founded in 1827 and central to its prestige Champagne strategy alongside Perrier-Jouët—the group signals continued commitment to the category where it holds genuine competitive advantage.
The U.S. premium sparkling segment has shown resilience in 2025, with domestic wines above $18 posting modest growth despite broader volume pressures. Integrating Mumm Napa will test Trinchero’s ability to preserve the brand’s upscale positioning and French-heritage narrative within a portfolio historically anchored by higher-volume labels like Sutter Home and Ménage à Trois.
Ultimately, the deal underscores a broader trend in U.S. wine consolidation: as global conglomerates narrow their focus to high-margin international spirits and protected-designation categories, domestic consolidation is increasingly driven by regionally committed family operators like Trinchero with the patience and infrastructure for long-term category building.
