Bordeaux just received the news that following on the heels of the purchase by the Wang family of China of Bellefont-Belcier, another Bordeaux chateau has just been sold to Chinese investors. The King Power Group, the largest duty free importer in Asia has completed the purchase of the well-known Chateau Bernadotte in the Haut Medoc appellation.
Chateau Bernadotte, classified as a Cru Bourgeois has 40 hectares of vineyard land in the Haut-Medoc region. The average annual production is close to 18,000 cases per year. Chateau Bernadotte was sold by Frederic Rouzaud after owning the estate for 5 years. Rouzaud maintains ownership of Chateau Pichon Lalande in the Medoc as well as in Champagne with Louis Roederer along with Deutz and in the Rhone Valley, they own the massive and highly respected Delas Freres.
Chateau Bernadotte was purchased by Frederic Rouzaud in 2007 when he acquired Chateau Pichon Comtesse de Lalande<, the famed Second Growth estate located in Pauillac along with the St. Estephe estates, Chateau de Pez and Chateau Haut-Beausejour from May-Eliane de Lencquesaing in a massive purchase. de Lencquesaing did not own Chateau Bernadotte for a long time either. She purchased the estate in 1997.
The King Power group is a business powerhouse with interests in real estate, food and beverages, retail with Agatha and more as well as in the duty free industry. By acquiring Chateau Bernadotte, this grants the King Power group more access to the Bordeaux wine trade, which of course brings them a lot more Bordeaux wine to sell in their duty free shops. Some deals make more sense than others. This was a perfect transaction for both parties.