The Chinese are buying French vineyards quicker than they snatch up aging European footballers. This week, a Hong Kong based invested group acquired Chateau Fauchey on the right bank of Bordeaux’s Garonne river, according to a statement from Maxwell-Baynes-Vineyards, an affiliate of Christie’s International Real Estate.
The buyer, identified as Profitsun Holdings, is the proud, new owner of the 27 hectare estate, as well as Fauchey’s collection of cellared wines, reported Maxwell-Baynes-Vineyards. The group added that the wines will primarily be used to supply Profitsun’s private clubs in Beijing, Shenzhen and Hong Kong. No financials were disclosed.
Chateau Fauchey is a solid, but smaller vineyard with limited distribution. The parcel is located Villenave de Rions with 6.5 hectares designated AOC Cadillac Cotes de Bordeaux, according to the company’s website. Their grapes are a mix of Cabernet Sauvignon and Merlot. Of equal note is the 15th century chateau on-site designed by Vignaux.
The estate was last sold recently, in 2010 when the Emmanuelli family took control. During their tenure, Domaine Fauchey went natural. In addition, the Emanuellis began operating a bed and breakfast on the grounds.
The acquisition is just the latest in a growing trend in Bordeaux. Two similar vineyards, Chateau Renon and Chateau de Birot were sold to Chinese investors in as many years. Analysts credit the acquisitions to a growing demand for wine within China.
Maxwell-Baynes-Vineyards stated that the new owners will continue to employ organic methods and operate the bed and breakfast.