WINE GIANTS AND BUSINESS: CHANGYU, THE NUMBER ONE PRIVATE WINE INVESTOR IN CHINA HAS BOUGHT CHATEAU MIREFLEURS, ONE OF THE FRENCH LEADING WINE GROUP CASTEL’S BORDEAUX ESTATES, FOR 3.3 MILLION EUROS

In recent years, many Châteaux in Bordeaux have changed hands, but the latest deal has a different impact because it involved two wine giants: Changyu, one of the largest Chinese wine groups, and Castel, the largest French wine group. Changyu has bought 90% of Château Mirefleurs (55 hectares of vineyards in the town of Yvrac), from the giant Castel, to the tune of 3.3 million euros.

This is yet another step in the historical collaboration between the two wine giants that have collaborated for years also in distribution on their respective markets, and in 2002 founded the Yantai Changyu Castel Châteaux in Shandong Province, China.

The history of Château Mirefleurs dates back to the1400s, and has been owned by Castel since 1970. They produce about 250.000 bottles a year of the brands Château Mirefleurs and Château Techeney.

This acquisition is “just the latest step in our expansion”, said Sun Jian, CEO of Changyu, “because we are already looking for other chateaus in Bordeaux, as well as in other parts of France, and we want to expand to Australia and Chile”. The statement clearly puts forth the intents of the group, which in September also acquired the Marques de Atrio, in Spain, to the tune of 26 million euros.