CA Grands Crus sells two Bordeaux estates
CA Grand Crus has put two of its Bordeaux estates up for sale - Château Blaignan (Médoc) and Château La Tour de Mons (Margaux).
The move would allow CA Grands Crus, a subsidiary of Crédit Agricole which owns and operates several vineyards in the Bordeaux and Burgundy regions, to focus on Château Grand Puy Ducasse, Château Meyney (Saint-Estèphe) and Château de Santenay (Burgundy), said the parent company.
"The sales will consolidate Crédit Agricole’s leading position in the sector and its commitment to its players," said Christophe Blanchy, CEO of Crédit Agricole Investment Capital and Finance.
“Crédit Agricole is at the heart of wine production, management and marketing matters, like the customers it supports,” he said, adding the group was eager to “maintain a balance between supporting its customers and directly operating its properties”.
The funds generated by the sale of the estates will be reinvested directly as minority financing (buyout capital or growth capital) for Crédit Agricole customers.
Located in Soussans in the heart of the Margaux appellation, the Château La Tour de Mons estate covers an area of 58 hectares, while Chateau Blaignan, in the Médoc appellation, covers 97 hectares.
Sodica Millésime has been chosen for merger and acquisition advice on the sale of the two properties.
The group also revealed that Grand Puy Ducasse is undertaking a “vast investment programme” to continue to improve the quality of the wines, strengthen the estate’s environmental measures and develop wine tourism in the heart of the Pauillac region, with a new vat-house and winery expected to open in 2021.
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