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AXA Millesimes returns to Portugal with Quinta do Passadouro Port purchase

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AXA Millésimes, the wine arm of AXA Insurance, has made another vineyard acquisition in Portugal, this time moving for Port and red wine producer Quinta do Passadouro.

The division, which owns Quinta do Noval in the Douro valley, confirmed late yesterday the purchase of neighbouring Passadouro from the Bohrmann family, who also own a namesake winery in the Meursault region of France. The transaction includes 36 hectares of vines, split between the Pinhão and Roncão valleys of Douro, as well as the Quinta do Passadouro Port brand.

Financial details behind the transaction were not disclosed.

"The team of Passadouro will remain with the Quinta and will join the dedicated team of Quinta do Noval," said Christian Seely, MD of both AXA Millésimes and Quinta do Noval. "We intend to maintain the brand of Quinta do Passadouro, which has produced some thrilling wines - both Ports and unfortified red wines - during the Bohrmann's time there. The 36 hectares of Quinta do Passadouro added to Noval's 145 hectares bring our total area under vine to 181 hectares.

"Passadouro has been lovingly cared for by the Bohrmann family for many years, and we are very happy to have been able to acquire this wonderful property, and to be able to build on the excellent work they have achieved here since the vineyard was acquired by Dieter Bohrmann in 1991."

Last year, AXA Millésimes headed to California to buy Outpost Wines, located on Howell Mountain in Napa Valley. The division also owns wine estates in Bordeaux, Burgundy and Hungary's Tokaj region.

"The principal aim of AXA Millésimes is to create long-term capital growth in vineyard sites" - Click here for just-drinks' interview with Christian Seely from 2007


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