Saturday, 28 October 2017

Francois Pinault of Chateau Latour buys Clos de Tart for €40 million per hectare?

Francois Pinault, the 81 year old French billionaire businessman, who owns Chateau Latour, has just confirmed the purchase of Clos de Tart in the Burgundy village of Morey St Denis. This beautiful 7.53 hectare of Grand Cru vines is a Monopole, which means it is under sole ownership, rather than classically being split into multiple ownership.
There was a strong rumour that the Rouzaud family (owners of Champagne Louis Roederer and Chateau Pichon Longueville Comtesse de Lalande) were going to buy Clos de Tart.
But Francois Pinault has a history of buying ultimate quality prizes. He bought Chateau Latour in 1993 under the nose of the Wertheimer family, who were under bidders, and took consolation by buying Chateau Rauzan Segla in Margaux and Chateau Canon in Saint Emilion.
Clos de Tart joins Francois Pinault's other burgundy estate Domaine Eugenie (formerly Rene Engel) in Vosne Romanee.
Clos de Tart has some significant neighbours in the village of Morey St Denis in Clos des Lambrays owned by Bernard Arnault's LVMH as well as the excellent Domaine Dujac owned by the Seysses family.
The cost of Clos de Tart has not been released, however the rumour is that the price was between €200-€250 million, valuing the estate at c€40 million per hectare.
Decanter magazine and The Drinks Business have written about the purchase.

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