WWD.com/business-news/mergers-acquisitions/lvmh-acquires-vineyard-in-burgundy-7641753/
government-trade
government-trade

LVMH Acquires Vineyard in Burgundy

Clos des Lambrays dates back to the 14th century.

PARIS — LVMH Moët Hennessy Louis Vuitton said it has acquired Clos des Lambrays, an elite producer of Burgundy wines with roots stretching back to the 14th century.

Financial terms were not disclosed.

It is understood LVMH acquired the estate from Ruth Freund, listed on the Clos Web site as its owner since 1996.

With an estate spanning more than 21 acres, Close des Lambrays produces about 30,000 to 40,000 bottles per year of Grand Cru, along with Morey-Saint-Denis and Morey-Saint-Denis Premier Cru Les Loups red wines. It signature white wines include Clos du Cailleret Premier Cru and Les Folatières Premier Cru.

LVMH said it would ensure the future sustainability of the estate and its traditions, with Thierry Brouin remaining its chief winemaker.

The French group’s wines and spirits division includes such brands as Dom Perignon, Krug, Hennessy, Belvedere, Glenmorangie and Château d’Yquem.