Chinese group Bright Food has acquired a 70% stake in Bordeaux trader Diva Bordeaux.

The transaction, announced earlier today (25 June), is for an undisclosed sum, and has been processed through Bright Food's subsidiary, Shanghai Sugar Cigarette and Wine (SSCW).

Diva Bordeaux's founder & president, Pierre Beuchet, and CEO Jean-Pierre Rousseau will hold the remaining 30% of the company's capital. Rousseau will occupy the posts of president & CEO for a minimum five-year mandate following Bright Food's purchase. An SSCW representative will be appointed chairman of a supervisory committee to be created.

The transaction is subject to final closing operations that are due to occur shortly.