Burgundy: Negociant Béjot to sell Château Corton-André to the Frey family

Friday October 03 2014 by Vitisphere

 

At the beginning of August, negociant firm Béjot Vins & Terroirs bought the entire assets of Corton-André from shipping firm Ballande. The deal involved 150 hectares of vineyards for sourcing wine (spread over 90 appellations in greater Burgundy), two brands (Pierre André and La Reine Pédauque) and Château Corton-André (7 hectares of vines). The acquisition is not likely to stay in the company’s portfolio for long, however, as Béjot went on to sign a sale agreement for the château with Champagne family Frey. Alluded to soon after Corton André’s purchase by Vincent Sauvestre (Chairman and CEO of Béjot Vins & Terroirs), the rumour was confirmed by Nicolas de Rouyn and the Dauphiné newspaper at the end of August. Béjot has stated, though, that the final sale agreement is not due to be signed until mid-October. The Burgundy shipper retains control of the Pierre André and Reine Pédauque brand names which means that the future owners of Château Corton-André will have to come up with a new label for the property’s wines.

The deal allows Jean-Jacques Frey and his family (147th on the list of France’s wealthiest people according to Challenges) to make inroads into Burgundy. Specialising in commercial real estate (Immobilière Frey was founded in 1983), the Freys are particularly active in the wine industry: they bought Medoc’s Château La Lagune in 1999 (after buying Champagne house Ayala then selling it to Bollinger in 2005) and Paul Jaboulet Aîné in 2006.

 

[Source: Vitisphère; Photo: A view of Château Corton André’s rooftop (Corton André)]

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