Bright Food buys stake in Bordeaux broker

China’s second largest food maker, Bright Food Group, is to buy a 70% stake in independent wine broker Diva Bordeaux.

Bright Food Group logo

“Diva will be able to reinforce its international development, especially in China, through Bright Food’s distribution network, which includes hundreds of shops,” Bright Food said in a statement.

“This deal is contingent on Shanghai Sugar, Cigarette and Wine (SSCW) acquiring a stake in Diva Bordeaux,” the state-owned company added, referring to one of its subsidiaries.

The move further cements China’s presence in the French wine market.

Consumers in China and Hong Kong accounted for half of the export value of Bordeaux wines in 2011 – €342m according to the CIVB.

The French wine region has attracted increasing numbers of Chinese investors.

Twenty Bordeaux châteaux have been snapped up by Chinese buyers in the past four years, including actress Zhao Wei, who last December reportedly paid €5m for the 7-hectare Château Monlot in St Emilion.

The number is expected to increase to 30 by the end of the year.

A feature-length documentary entitled Red Obsession is to be released early next year exploring the mutual obsession between China and Bordeaux.

The all-Australian production is set to feature commentary from film director-turned-winemaker Francis Ford Coppola and UK chat show host Michael Parkinson.

Founded in 1979 by Pierre Beuchet, former export manager of Bordeaux merchant and châteaux owner Alexis Lichine, Diva Bordeaux reported sales of €33m last year.

Among its portfolio is Margaux third growth Château Palmer, Chile’s Almavia and Napa Valley’s Opus One.

Last month, Bright Food Group bought a 60% share in British cereal company Weetabix in the biggest overseas acquisition by a Chinese company in the food and beverage sector.

In 2011, Bright Food reported revenues of £7.8bn.