American billionaire Stephen Adams is poised to buy his seventh chateau in Bordeaux.
Adams already owns six chateaux on the Right Bank and now has his sights set on a ‘big one’ in the Left Bank’s Medoc area.
‘Our strategy is to go for a third or fourth growth, but not for more than €100m,’ Olivier Nouet, president of Adam’s company, Adams French Vineyards, told Elin McCoy at bloomberg.com.
If the French economy continues to worsen, late this year or early next year will be the time to make a move, added Nouet.
Adams had previously contemplated Margaux second-growth Chateau Lascombes but decided the sale price of more than €200m was too steep.
The billionaire was also set to purchase Chateau Poujeaux in the Left Bank’s Moulis appellation last spring until it was sold to another buyer at the last minute.
Adams already owns Chateau Lagarosse in the Premieres Cotes de Bordeaux appellation, Chateau de Candale and Chateau Fonplegade in Saint-Emilion.
In 2005 he added Chateau de Bel-Air in Lalande de Pomerol to his portfolio followed by Chateau L’Enclos in Pomerol and Chateau Roylland in Saint-Emilion in 2007.
Written by Suzannah Ramsdale