France-based wines and spirits company Pernod Ricard’s subsidiary Pernod Ricard USA, has entered into an agreement with F. Korbel & Bros to buy assets related to Kenwood Vineyards in Sonoma Valley, California.

According to Pernod Ricard, the acquisition of the assets represents its confidence in its wine development portfolio as well as its ambitions in the US.

Pernod Ricard chief executive officer Pierre Pringuet said the transaction illustrates the company’s ability to seize tactical growth opportunities that can benefit its entire portfolio in key markets such as the US.

"Kenwood will support the company’s ambition in wine and fits ideally within Pernod Ricard’s multi-origin wine portfolio strategy," Pringuet added.

The financial terms of the agreement, which is scheduled for completion before 30 June 2014, are not revealed.

Kenwood currently distributes its products including a range of Sonoma wines in the US and Canada.

Pernod Ricard USA produces wines and spirits. It offers vodka, Scotch whisky, single malt Scotch whisky, Irish whiskey, liqueur, gin, tequila, champagnes, and sparkling wines.