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May 30, 2022 View:

French Kellogg Estate owner buys 3 Bordeaux Right Bank wineries

French insurance group Suravenir, the owner of the French estate of Château Kellon, has recently acquired three châteaux on the right bank of Bordeaux from the owner of Château Latour.

Image from: Internet

Earlier this month, François Pinot"s Artmis Domaines sold Château Péognac in Saint-Emilion and Château Vray Croix de Gay in Pomerol and Château Dashers in Lalande Pomerol to French insurance group Suravenir.

The details of the specific transaction, including the price of the three wineries and even the reasons for the transaction, were not disclosed by either party.

However, Bernard Le Bras, president of Suravenir Group, recently told Vitisphere that vineyards are now proving to be attractive investments, with an annual return of 2%, compared to a yield of -0.28% on French government 10-year bonds.

Given that the Suravenir group is looking to expand its vineyards, and that Artmis Domaines may be looking to sell some of its smaller estates to repay the astronomical price it paid in 2017 for the Château de la Grande Terre de Bourgogne (estimated at €250 million), the move is likely to be motivated by serendipitous demand satisfaction.

Artemis Domaines' portfolio of wineries includes Château Latour, Château Grenier and the aforementioned Château Dade, of which the company initially acquired a minority stake in 2014.

At the same time, in 2012, the Suravenir Group acquired the Domaine du Caillons and the Château de Skoton. This was the group's first foray into winegrowing, and since then it has managed and invested in winegrowing with great success.