China shopping for French wineries

There is no mention of the purchase price of course. The only number that is known is that of Château Lezongars, which was put on the market for 4.2 billion euro in 2009. Two other wineries, one of them Château Grand Moueys, are also supposed to be sold very soon. Both are said to have Chinese potential buyers and the sale is supposed to be initiated around mid-January. Another 13 wineries have already been purchased by the Chinese. Among them Château Branda in the AOC Fronsac, purchased by billionair Cheng Qu and Château Monlot, sold to the actress Zhao Wei.

Château Lezongars, which is located in Villenave-de Rions, about 32 kilometers south-east of Bordeaux, is known for its high-quality wines at low prices. It was not until the English Philip Iles and his wife Sarah inherited this winery in 1998 that it became more successful. Both of them apparently had a lot of experience from their restaurant/bar in London and their network was of great help for when they finally put their wines on the market.

At the turn of the century their son Russel joined them, after his successful term as a marine underwriter. However, a couple of years later, Russel lost his interest in viticulture and invested more time into real estate and investments. For Philip and Sarah Iles, who did not see how they could continue without their son, the sale of their winery seemed a nice way to retire.

Château Grand Branet, which was built in the 17th century and renovated in the 90s, is situated in a very nice park in Capain, which is about 23 kilometers south-east of Bordeaux. The owners Denis and Blanch Mainville, who are getting a little older, also offer a bed and breakfast as well as room rentals for seminars and conventions. Their wines are very neat and are offered at reasonable prices.

Alexander Hall, who is a consultant of many wineries in Bordeaux as well as teacher at the Ecole du Vin in Bordeaux and who has an Advanced Certificate in Wine & Spirits Education Trust, explains the Asian interest in French wineries: "If the conditions of a traditional castle and AOC Bordeaux are right, the owners of the Châteaux accept the purchasing price and there is no interference with inheritance, the Chinese will buy right away. They are not worried about being able to sell their wines because in their country this will not be a problem whatsoever".

Gavin Quinney, owner of the close-by Château Bauduc says: „These two wineries were sold so quickly and I'm sure they won't be the last ones either. The Chinese are of great hope for wineries that are having particular issues establishing themselves on the global markets. It will start out as a cooperation that includes selling wines in the Asian market  and then turn into a takeover of the busienss".(red.yoopress)