Multi-millionaire chateau owner Bernard Magrez has added to his wine empire by acquiring vines in Spain's up-and-coming Jumilla region.
The small estate has been named simply ‘Bernard Magrez a Jumilla‘ and comprises only around two hectares for the time being. A purchase price was not disclosed.
Speaking to Decanter.com during en primeur week in Bordeaux, Bernard Magrez (pictured) said the image of Spanish wine in general is improving around the world.
‘They make extraordinary wines down there,’ he added of the Jumilla, a small appellation near to Valencia in southern Spain and where Magrez has already been sourcing grapes to produce the Luz del Palacio wine brand. Magrez is also present in Priorat and Toro.
Philippe Magrez, Bernard’s son, told Decanter.com, ‘We want to have a top cuvee and an entry level wine [from Jumilla].
‘You can have a small production at a high price, something like 2,000 bottles per year. Then [you can] buy wine from co-operatives and make an entry level wine, but you have the name and the brand.’
Bernard Magrez has 41 wine estates to his name globally, including four grand crus classes in Bordeaux: Chateaux Pape-Clement, La Tour Carnet, Fombrauge and Clos Haut Peyraguey.
When asked whether he is finished acquiring properties in the Bordeaux region, he said, ‘Unless there is an opportunity.’
(Extra reporting by Georgina Hindle)
Written by Chris Mercer