Changyu invests in Bordeaux and partners with Advini

Monday July 15 2019 by Vitisphere

The joint venture between Changyu and Advini, with respective stakes of 55% and 45%, went unnoticed in France but was revealed last spring by the Chinese group, which claims to have invested €5.77 million in the venture.The joint venture between Changyu and Advini, with respective stakes of 55% and 45%, went unnoticed in France but was revealed last spring by the Chinese group, which claims to have invested €5.77 million in the venture.

Founded in 1892 and controlling 16,000 hectares of vineyards, Yantai Changyu Pioneer Wine Co. Ltd is ramping up its investments in the French wine industry through the joint venture L&M Holdings. After buying 100% of Roullet-Fransac Cognac in 2013 and 90% of Château Mirefleurs in 2015 in partnership with the Castel Frères group, China’s leading wine producer has just taken over Château Liversan and its 51 hectares of Haut-Médoc appellation vineyards which produce 265,000 bottles annually. The Bordeaux property is being sold by the Advini group, which acquired it in 2016, with all seven of Jean-Michel Lapalu's chateaux.

Although it went unnoticed in France, the joint venture between Changyu and Advini, with respective stakes of 55% and 45%, was revealed last spring by the Chinese group, which claims to have invested €5.77 million in the venture. Ushering in “a new stage in its expansion into export markets”, the Changyu group stresses that “France is renowned as the centre of the wine world, and also the largest source of imported wines for China”.

Benefits and risks

The joint venture offers Changyu a more economical way to expand abroad, allowing the group to share the benefits and risks with a partner”, said Changyu's CEO Sun Jian.

 

 

 

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