Magrez continues to expand empire

Bordeaux entrepreneur and Chateau-owner Bernard Magrez has continued the expansion of his wine empire, acquiring properties in Chile and Spain.

The owner of Bordeaux’s Chateau Pape-Clement signed for both a 220ha piece of land in Colchagua Valley, Chile, and a 16 Century abbey in Toro, Spain.

The land in Chile is in a so-far unplanted part of Colchagua, at an altitude of 800 metres, and was found for Magrez by his oenologist Michel Rolland. It will eventually see around 50ha under vine.

‘Most of the land is unsuitable for growing vines, but we had to buy the entire hill to ensure control of the water supply,’ Magrez told decanter.com.

The Spanish acquisition in Castille is an abbey dating back to 1540, located in the centre of the small town of Toro. Although the property does not come with vines, the intention is to turn the estate into a vinification centre next year. This will cover all his vineyards in the region, which currently include the well-regarded Paciencia

A third project in the pipeline is a joint venture with a leading white wine producer in Japan, although details have yet to be finalised.

Written by Jane Anson