China's Changyu Pioneer Wine Company has acquired small Cognac trader, Roullet-Fransac, for an undisclosed sum. 

The sale was finalised last week, but further details of the deal were not revealed. Based in the town of Cognac, Roullet-Fransac was founded in 1838. Its premises are situated on the banks of the Charente river. 

Roullet-Fransac has annual estimated sales of around EUR1.5m. It has limited stocks and possesses no vineyards. However, its property interests include an 18th century 2,000 square-metre dwelling. 

Reports emerged last year that Changyu was planning to build a CNY6bn (US$944m) "wine city" in North China by 2016