I think in recent years we’ll be seeing more headlines such as this, and for good reason. It’s estimated that there are now 150-160 Chinese-owned Bordeaux chateaux, and from a business perspective, it makes perfect sense.
Very recently, Chinese food and restaurant group, Golden Field, purchased Domaine de Bellair on Bordeaux’s Right Bank. Golden Field is a multinational food and drink company based in China and Taiwan that specializes in health foods.
The food giant says it owns more than 4,000 restaurants and food stores as well as having a large online presence in China. A company spokesperson said that the firm’s purchase will assist in guaranteeing quality control by owning the production sources, as this is the company’s standard policy for food and drink.
As a business owner looking at this news with a critical lens – this is almost every owner’s ultimate goal. The only way to ensure quality control across all brands is to acquire your production sources. Even if you use trusted partners – the reality is you are still paying them for their goods and services. In order to grow, the reality is you should be at least thinking about how to accumulate the companies you are working with. This is one of the reasons the Cadman Group has grown to over 32 different companies. We’ve acquired an exceptional amount of moving parts, all under the same umbrella.
Golden Field plans to use the wine to supply its multiple businesses across Asia. This is the latest succession of Asian investors in Bordeaux wine and this deal is part of the shift among Asian investors that are moving towards more “strategic” purchases.
Golden Field Chairman Lu Cheng-Chang has told multiple news outlets, “To own our own Bordeaux vineyard is an exciting step and although we plan to keep the wine’s existing distribution, we will also export to Japan, Taiwan, China and Southeast Asian counties to make the most of the existing wine distribution networks we have developed there.”
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