FRANCE: Chinese enter Bordeaux with chateau acquisition
Chinese company Longhai International Trading Company has acquired a wine chateau in Bordeaux.
The property and wine import company confirmed yesterday (29 January) that it has bought Latour Laguens for an undisclosed fee. Longhai will take control of the 60 hectare property - 30 hectares of which is vines - in the Entre deux Mers area of Bordeaux.
"It is good news for Bordeaux, and of very symbolic importance," said Thomas Jullien, Asian marketing director for the regional wine body, Conseil Interprofessionnel des Vins de Bordeaux (CIVB).
A2Z, the agency which handled the transaction, said that prices in the region are currently at their lowest, citing figures of between EUR18,000 and EUR20,000 per hectare.
According to the CIVB, exports of Bordeaux wine to China in the 12 months to October last year increased by more than 100% year-on-year, from 2.5m bottles to 5m.
The fevered atmosphere pervading Bordeaux as it awaits reaction to this year’s en primeurs puts Chris Losh in mind of an unfortunate experience that befell him two years ago. Buying en primeur can be ...
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