Bordeaux vineyards continue attracting Chinese investors
Although the sale of Domaine de Courteillac concluded a few weeks ago the official announcement was this past week as reported in Decanter. The owner of Daohe Wine and Spirits Zhou Xijian came to Bordeaux for the first time since the transaction commenced at the end of last year.
Michael Baynes was flown out to China in January to make a presentation to 200 members of the Daohe wine distribution team. At that time Baynes met with Zhou Xijian and had the opportunity to participate in the development of the Daohe Bordeaux vineyard strategy.
As their first Bordeaux vineyard transaction they invested considerable time and effort to fully understand each step of the transaction process. Their choice of Domaine de Courteillac was highly strategic as a first purchase and it was clear that the Christie’s brand was an important part of their long term project with Bordeaux vineyards for sale.
The grand opening was the sumptuous setting of Palais de la Bourse in central Bordeaux. Li Lijuan and Michael Baynes were ushered to a VIP room to meet various dignitaries and luminaries of the Bordeaux vineyard and wine industry.
Speeches by Sylvie Cazes the president of the cite du vine Bordeaux, Michel Roland and Frederic Massie the representative from Stephane Derenoncourt’s office (who will remain as consultants to the new owners) accompanied a series of presentations from senior members of the Daohe team.
Domaine de Courteillac is a Bordeaux Superieur that has earned an outstanding reputation for quality. Chinese investor Doahe made the decision to purchase due to its terroir, infrastructure, existing distribution, management team and not least its former owner Dominique Meneret.