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News
Medoc estate buys Montelena
One of Bordeaux’s most distinctive Châteaux has snapped up one of California’s most historic. Pagoda-topped “super” second Cos d’Estournel is the new owner of Napa Valley’s 126-year-old Chateau Montelena. A strong euro and weak dollar may well have provided the incentive for this latest French-funded fine wine acquisition.
Cos d’Estournel’s owner, Michel Reybier has not disclosed the price paid for Montelena but sources suggest it may have fetched as much as US$150m. The estate, which includes 200 acres, was owned by the Barrett family.
Reybier has created a committee to run Montelena headed by Jean-Guillaume Prats, general manager at Cos d’Estournel.
Patrick Schmitt 23/07/08