CLASSY CRU: Adding another prestigious wine label to its collection, Moët Hennessy has agreed to purchase Château du Galoupet, a Cru Classé from the Mediterranean wine-making region of Côtes-de-Provence.
The LVMH Moët Hennessy Louis Vuitton-owned wine and spirits company plans to expand production of the historic wine-making estate, which sits along the Riviera overlooking the Hyères Islands, and is known for its rosé wines.
“Moët Hennessy will share its expertise in winemaking to further the commitment to quality and international exposure,” the group said in a statement.
The acquisition — the house’s first rosé wine — should be finalized in the second half of the year, it added, without providing financial details.
The homepage of the estate’s web site, which is undergoing refurbishment, has a section for events, suggesting the site has potential in another area of expertise of the luxury group.
As high-end labels around the world increasingly stress the importance of offering distinctive experiences for shopping-weary consumers, LVMH has been steadily building up a portfolio of properties in the hospitality sector, including Cheval Blanc properties in Courchevel, St. Barths, the Maldives and Saint-Tropez.
It has considerably bulked up its holdings with the $2.6 billion purchase of Belmond Ltd., owner of the Venice Simplon-Orient-Express train and high-end hotels like the Cipriani in Venice.