Burgundy negociant snaps up rival
5th August, 2014 by Rupert Millar
Burgundy négociant Bejot Vins & Terroir has bought its ailing rival Maison Corton Andre for “tens of millions of euros”.
The actual fee was not disclosed but it was clearly substantial for a winemaking operation with over 150 hectares of vineyards across 90 appellations in the region from Chablis to Pouilly-Fuissé.
The Aloxe-Corton-based Corton Andre has apparently been “struggling” to make a profit in recent years under former owner Groupe Ballande which has major holdings in Bordeaux including Château Prieure-Lichine.
The new owners are planning to close the production facilities in Corton and use instead the newer production plant in Meursault but it will retain the 44 employees “for a certain time”.
Bejot Vins has made several acquisitions since 2000, including François Protheau & Fils in 2002, Moingeon a cremant producer in 2003, Chartron et Trébuchet in 2004 and Moillard in 2008 and it is now one of the biggest négoce in the region.
The deal includes the acquisition of Corton Andre’s famous château in Corton however, according to local paper Saône et Loire, Bejot Vins’ chief executive Vincent Sauvestre is in talks with Paul Jaboulet Ainé owner, Jean-Jacques Frey, to sell the château and its seven hectares of vines spread over Corton, Volnay, Meursault and Pommard.
As reported earlier this week, Domaine Faiveley acquired Chablis producer Billaud-Simon.