Premier Winery Sold to Billionaire

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Clos de Tart, a renowned Côtes de Nuits, Burgundy winery has been sold by its owners to Artémis, the wine investment vehicle of billionaire French entrepreneur François Pinault. Pinault and his family are strong hands for Clos de Tart, ensuring the winery will remain operating. Yohan Castaing reports on the purchase at Decanter:

François Pinault and his family announced on Friday (27 October) that they have bought Clos de Tart, the renowned domaine of Morey St-Denis in Burgundy’s Côtes de Nuits, via their holding company Artémis.

No fee was disclosed, although Burgundy grand cru vineyards are the most expensive in the world, costing several million euros per hectare. Clos de Tart has 7.53 hectares.

Some reports in France suggested that the purchased price was possibly as high as 250 million euros, but this could not be verified.

It marks the latest in a string of high profile winery sales this year.