Jacky Lorenzetti acquires 50 per cent of Chateau d'Issan
- Thursday 28 February 2013
Lorenzetti, who already owns Chateaux Lilian Ladouys in Saint Estephe and 5th growth Chateau Pédesclaux in Pauillac, has acquired 50% of the capital of Issan, Decanter.com can confirm.
The Cruse family has owned the 1855 third growth estate since 1945, initially bought by Emmanuel Cruse's grandfather, of the same name. He split the estate equally between his two sons, Roland and Lionel Cruse, and it is Roland's descendants who have sold their share.
Emmanuel Cruse, who is Lionel Cruse’s son and also Grand Maitre of the Commanderie de Bontemps, retains all of his share and will remain as managing director.
As part of the deal, he will also become MD of Lilian Ladouys and Pédesclaux, after spending the past couple of years a consultant to the estates that Lorenzetti bought in 2008 and 2009 respectively.
'Nothing will change with the day-to-day running of Issan, but it is a positive move, and will enable me to work alongside a shareholder who has equal belief in my strategy, and who has a vision to push things forward, not just for Issan but for all of his estates,' said Cruse, who is credited with returning Issan to its former glory in the past 15 years.
'It is always a shame when there are difficulties within families, but at least this has now been resolved smoothly for both sides,' he told Decanter.com.
Lorenzetti, also owner of Paris rugby club Racing Métro 92, made his money through property group Foncia. His fortune was last year estimated at EUR245m by French business publication Challenges, having risen on 2011 but fallen from a pre-financial crisis high of around EUR700m.
Of Chateau d’Issan's 53 hectares, 40ha are in AOC Margaux and the rest in AOC Haut-Médoc and AOC Bordeaux Superieur.