Bernard Magrez Sells in France, Buys in Chile
A couple of years ago the words high-end wine and Chile might have sounded laughable but as a recent article by Laura Daniel proves, the pricier end of the Chilean wine market is booming. Big bold Chileans reds are commanding attention and winning rave reviews.
In France, Magrez is selling off a trio of AOC Bordeaux estates. It's not that he's given up on France (of his 32 estates, 18 are in Bordeaux and six are in Languedoc Roussillon) but the move does bring increased credibility to the already booming area of South American wine. It seems to be part of a global shift where China and Russia are picking up older estates in Bordeaux while French winemakers are bringing their expertise to areas with less vineyards (and lower land prices).