FRANCE: Moet Hennessy acquires Burgundy's Clos des Lambrays estate
Moët Hennessy has lined up the purchase of grand cru de côte-de-nuits Clos des Lambrays.
The company, which is owned by French luxury goods giant LVMH, said late last week that the purchase of Clos des Lambrays includes the full estate of almost 8.7 hectares. The transaction of one of the most prestigious wine estates in Burgundy marks LVMH's entry into the region.
The company already boasts the Château d’Yquem (Sauternes) in its wines portfolio and the Château Cheval Blanc, premier grand cru Saint-Emilion, which it jointly owns with Belgian businessman Albert Frère.
The Clos des Lambrays has been acquired in its totality from German family Freund and will continue to be run by current estate manager and œnologue, Thierry Brouin, who has been in the post for over 30 years.
The chairman & CEO Moët Hennessy, Christophe Navarre, declined to comment on reports that the group had paid close to EUR100m (US$138.4m) for the estate.
Annual production at Clos des Lambrays averages 35,000 bottles.
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