Champagne Louis Roederer has snapped up Bordeaux wine producer Chateau Pichon-Longueville Comtesse de Lalande after months of talks.

The two sides had entered into exclusive negotiations in October but last night (11 January) they announced a deal.

The acquisition of Chateau Pichon - for an undisclosed sum - will be Louis Roederer's fourth investment in Bordeaux. The Champagne producer already owns two châteaux in St. Estephe and has a stake in a wine merchant in Bordeaux.

Chateau Pichon, one of the Grand Cru Classe of Pauillac, is an estate spread over 87 hectares. As part of the deal, Louis Roederer has also acquired the 39-hectare Chateau Bernadotte, which is situated to the west of the Pauillac appellation, in the village of Saint-Sauveur.