Treasury snaps up historic Bordeaux wine estate

Australian wine powerhouse Treasury Wine Estates is the new owner of Chateau Lanessan, one of the old wine estates in Bordeaux.

"We’re pleased to announce the completion of our majority acquisition of Chateau Lanessan," the company said in a statement,

Founded in 1793 by Bordeaux wine merchant Jean Delbos, the property features 390 hectares of land and 80 hectares of Haut-Medoc-appellation vineyards, a winery, and two 19th century chateaux in the commune of Cussac near Fort Médoc.

The vineyard is planted with 52% cabernet sauvignon, 37% merlot, 8.5% petit verdot and 2.5% cabernet franc.

The estate held a rating of Cru Bourgeois Supérieur, until this classification was annulled.

The Bouteiller family has been the custodian of the property for nine and will continue to play a role as Treasury continues to build its multi-national luxury wine portfolio.

Penfolds managing director Tom King said: “We look forward to collaborating with the Bouteiller family and winemakers to enhance the château’s production capability and reputation for quality wine, while also deepening our relationships with the local Bordeaux community.

"The region’s winemaking traditions complement the quality and innovation that Penfolds is known for, and we have ambitious plans to invest in the historic property and welcome wine lovers to experience the region’s unique winemaking traditions.”

No financial details were announced but the deal was completed earlier this week.