Famous Paris wine shop sold to Japanese4th July, 2013 by Rupert Millar
One of Paris’ most famous wine shops, Legrand Filles et Fils, has been sold to a Japanese investor.
Amane Nakashima, who runs a food business Nakashimato, bought an 80% share in the Everget Group, which owns the wine shop, for €16 million last month.
Chairman of Everget, Gérard Sibourd-Baudry, who bought the wine business from the original family in 2000 and also owns rare wine specialist Vins Rares Peter Thustrup, said: “The Japanese have a great respect for wine and the business.
“I didn’t want English investors because they have an attitude towards wine that is very different to my own: they consider it a product first and not something cultural.
“Nor did I want investors from emerging countries such as China that want a quick return on their investment.”
Nakashima already distributes French wines in Japan and in 2010 bought Folium Vineyards in Marlborough.
It is thought that he is seeking to expand the business, possibly opening offices and stores abroad in markets such as Hong Kong.
Everget has an annual turnover of €25m, 10% of which comes from its shops in Paris and the rest from exports, 50% of which currently go to Asia.