CHINA/FRANCE: COFCO buys Bordeaux's Château de Viaud
By Stuart Todd | 18 February 2011
China's COFCO buys Bordeaux vineyard
Chinese biggest wine producer, COFCO, has acquired the Château de Viaud in the prestigious Bordeaux Lalande-de-Pomerol AOC wine region, a law firm assisting in the deal has confirmed.
Law firm Gide Loyrette Nouel confirmed to just-drinks this week that a deal has been signed. Château de Viaud's estate covers 20 hectares and was previously owned by Bordeaux trader Philippe Raoux. Financial details of the deal have not been disclosed.
It is the fourth Chinese acquisition in the Bordeaux vineyards in recent years, and the first by a state-owned Chinese enterprise, which illustrates China's growing interest in French wine, said Gide Loyrette Nouel.
COFCO has annual food and drink sales of around US$21bn.