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FRANCE: US financier buys Loire property

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The Loire-based winemaker Domaine Huet has been sold to the US financier Anthony Hwang, according to a story from the international newswire service Agence France-Presse. The deal marks the first foreign investment in a wine property in the area.

The property includes a 35-hectare vineyard in Vouvray.

The majority holding has been purchased a year after the death of Gaston Huet. However Noel Pinguet - Huet's son-in-law - will continue to run the estate.

Pinguet apparently sold the share because none of his children wanted to take over the property. "So I have been searching for a serious buyer over the last few years," he told AFP.

"There were other potential buyers, but I felt they were more interested in depleting our cellar, stacked with old vintages dating back to 1875."

"The Loire valley is always by-passed by foreign investors who prefer the better-known vineyards of Bordeaux or Burgundy and the sunnier slopes of the south of France," he said.


Sectors: Wine

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