Burgundy Chef Lists on the Stock Market
Chef Bernard Loiseau, owner of the prestigious Burgundy restaurant La Cote d'Or, is making history by cooking up a listing on the French stock market.
This move makes him the first three-Michelin-star chef to take himself public. "I decided to take this step in order to raise funds for business expansion, as well as to ensure financial stability when I decide to retire," said Loiseau. "I've worked very hard my whole life and don't want to worry about the future."
In December, Loiseau put 625,000 shares, quoted under his full name, on the secondary market for small companies. This represents 45 percent of his holdings, which also include another restaurant, Tante Louise, in Paris, and a culinary consulting venture. Loiseau retains 55 percent of the business. At press time, the shares were trading at a little more than $6 each, just under the initial offering price. The stock offering was underwritten by Caisse Centrale des Banques Populaires in Paris.
Despite Cote d'Or's off-the-beaten-path location in the small village of Saulieu, gourmets from around the world make the two-hour drive from Paris or Lyons (or fly in on private jets) to sample Loiseau's culinary creations in the restaurant's rustic wood-and-stone dining room that dates back to the 1850s.
Loiseau, who learned to cook in the kitchens of the famed chef Pierre Troisgrois, says his success lies in readapting classic recipes to modern taste buds. His specialties, such as frog's legs or perch pike with shallots in red wine, contain no butter, cream or sugar and "are light and savory," he said.
Because "the cooking, the dishes, the decoration are all in harmony with the region," Loiseau said his wine list emphasizes red and white Burgundies, although it also contains a selection of Bordeaux and labels from other regions. He commented, "Nothing flatters my dishes better than white wines such as Chassagne-Montrachet or Puligny-Montrachet or reds such as Chambolle-Musigny or Volnay."
Restaurant Cote d'Or
Saulieu, France
Phone, (011) 33-3-80-90-53-53
Fax, (011) 33-3-80-64-08-92
Open - Lunch and dinner, daily
To learn about another recent French stock offering:
Friday, February 19, 1999
Family-Owned Burgundy Producer Offers Public Stock To read more about Bernard Loiseau:
September 3, 1998
Burgundy Chef Opens Paris BistroNovember 30, 1996
Rating the Michelin Three-Star RestaurantsNovember 30, 1996
The Stars of French CuisineFebruary 29, 1996
Three-Star Dining
