Treasury Wine Estates Completes Deal For Bordeaux’s Chateau LanessanOctober 20, 2022
Treasury Wine Estates has completed its majority acquisition of Château Lanessan in Bordeaux from the Bouteiller family for an undisclosed sum. The company called the move “the latest step in bolstering Penfolds’ multi-regional luxury wine portfolio, doubling the existing production capacity for Penfolds in France.”
The purchase includes 390 hectares (964 acres) of land with 80 hectares (198 acres) of Haut-Médoc-appellated vineyards planted with typical Bordeaux varieties of Cabernet Sauvignon, Merlot, and Petit Verdot, as well as the historic château, built in 1878. Tom King, managing director of Penfolds, said, “We look forward to collaborating with the Bouteiller family and winemakers to enhance the Château’s production capability and reputation for quality wine.”
In addition to producing Penfolds wine, the winery will continue to produce wine under its Château Lanessan, Les Caleches de Lanessan, and Château de Sainte Gemme labels, which will be distributed through existing channels.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.