AdVini, a French wine company that owns more than a dozen wineries in France and South Africa, purchased the Burgundian négociant house Maison Champy Oct. 14. The deal also includes Domaine Laleure-Piot, which Champy acquired in 2010 but operates as a separate brand. The sale price was not disclosed.
Founded in 1720, Champy is Burgundy's oldest merchant house. The deal includes 54 acres of vineyards held between Champy and Laleure-Piot, including parcels in grands crus Corton, Corton Rognet, Corton-Bressandes and Corton-Charlemagne.
Pierre Beuchet, the majority partner in Champy since 2012, cited erratic yields and adverse weather among the reasons he and his partners decided to sell. "I just turned 68 and it was probably time for me to give the reins of Champy to someone with the required financial strength and appetite for growth," he told Wine Spectator.
Technical director and enologist Dimitri Bazas will continue to lead the vineyard and winemaking team. Thierry Bellicaud will be the new president.
For AdVini, a French corporation with a growing portfolio of vineyards and wineries, wine services and distribution organizations, the acquisition gives it a strong foothold in the Côte d'Or to complement its Domaine Laroche property in Chablis.
"Red Burgundy, the Côte d'Or, and its grands crus in particular, were missing [from the portfolio], and we have been looking at different opportunities in the last [few] years before finding the perfect match," said Jean-Pierre Durand, AdVini's marketing and communications director. AdVini has been expanding in recent years and just last month it bought a majority share of South Africa's Ken Forrester brand.
"It's good news to see people dedicated to fine wine involved in Burgundy," said Louis-Fabrice Latour, president of Maison Latour in Beaune. "They have done a great job with Domaine Laroche and they will bring new ideas and energy to the region."