Treasury Wine Completes Château Lanessan acquisition
Treasury Wine Estates Ltd (TWE) said it completed its majority acquisition of Château Lanessan, one of the oldest estates in Bordeaux, France. The acquisition is the latest step in bolstering Penfolds multi-regional luxury wine portfolio, doubling the existing production capacity for Penfolds in France.
The purchase includes 390 hectares of land with 80 hectares of Haut-Médoc-appellated vineyards planted with typical Bordeaux varieties of Cabernet Sauvignon, Merlot and Petit Verdot, the historic Château Lanessan designed by renowned Bordeaux architect Henri Duphot and built in 1878, Château Lachesnaye designed by architect Louis-Michel Garros in 1883, as well as the winery and ancillary buildings. The property was founded by Bordeaux wine merchant Jean Delbos in 1793, with 9 generations of the Bouteiller family serving as its custodians.
Reinforcing TWE’s multi-regional sourcing strategy, the acquisition also enhances Penfolds position as a global luxury icon.
Tom King, Managing Director of Penfolds, commented “We look forward to collaborating with the Bouteiller family and winemakers to enhance the Château’s production capability and reputation for quality wine, while also deepening our relationships with the local Bordeaux community. The region’s winemaking traditions complement the quality and innovation that Penfolds is known for, and we have ambitious plans to invest in the historic property and welcome wine lovers to experience the region’s unique winemaking traditions.”
Kerrin Petty, Chief Supply Officer for Treasury Wine Estates, said “The majority acquisition of Château Lanessan is an exciting addition to the Treasury Wine Estates portfolio in Europe. Increasing our production capacity with such an historic site will support our future growth plans as we respond to consumer demand for wines across our portfolio of brands, including Penfolds.”
In addition to producing Penfolds wine, the winery will continue to produce wine under its Château Lanessan, Les Caleches de Lanessan, and Château de Sainte Gemme labels, which will be distributed through existing channels. More information about the property’s restoration and development will be available in 2023, TWE said.