PHÉLAN-SÉGUR SOLD TO SHIPPING MAGNATE

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Rumours are circulating that Saint-Estèphe property Château Phélan-Ségur has been sold to the owner of a leading shipping company.
According to a tweet by Jancis Robinson MW that the drinks business has not, so far, been able to absolutely confirm, the Gardinier family has apparently sold the ‘cru bourgeois exceptionnel’ to Philippe Van de Vyvere, the owner of one of Europe’s largest shipping firms, Sea-Invest.
Details of the sale remain unknown although the château was reportedly put up for sale with minimal fanfare some two months ago.
Neither the château nor the office of Van de Vyvere have so far confirmed the sale although both have been contacted by the drinks business.
It is thought the family has sold the estate in its entirety and have not retained any shares although the technical team will remain in place, at least for the time being.
The Gardinier family has been at the helm of the château since 1985 and the three brothers, Thierry, Laurent and Stéphane (pictured) have been in charge since the late 1990s.
As well as Phélan-Ségur, the Gadiniers own the famous Paris restaurant Taillevent, which also has an outlet in London now, Les 110 de Taillevent and one of Champagne’s leading hotels, Les Crayères in Reims.
Why they might have decided to sell the property is not known. It is conceivable they wish to focus more on the hotel and restaurant trade and have thus divested themselves of what would otherwise be an expensive asset.
On the other hand, they have also poured huge investment into the estate over recent years and critics and merchants alike are in agreement that the quality and consistency of the wines has improved dramatically, with the recent 2016 vintage being one of the ‘best ever’ wines from the property.
It is widely admired as a brand and certainly punches above its weight for a cru bourgeois with many people no doubting believing it to be a cru classé on the basis of its renown, quality and price.
Asking prices certainly have risen at the estate, though certainly not out of step with other properties in the region. Phélan-Ségur is a large estate though, covering some 70 hectares and produces a lot of wine in an average year.
Is it possible that in a bid to raise the profile of Phélan-Ségur and price it as a cru classé, the owners have found it harder to shift stocks? Or perhaps they found they’d hit a price ceiling and weren’t able to take the label any further?
Another high profile château, Troplong-Mondot, was sold last month to a French insurance firm.

An article from The Drink Business by Rupert Millar
https://www.thedrinksbusiness.com/2017/08/breaking-phelan-segur-sold-to-shipping-magnate/

Author: Julien Santini

Julien Santini is a Frenchman based in China since 2007. Wines & spirits merchant and wine specialist, he is WSET 3 awarded and currently studying WSET 4 diploma.

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