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BREAKING NEWS

BREAKING NEWS

Luxury goods group LVMH buys wine producer Chateau du Galoupet

Luxury goods group LVMH buys wine producer Chateau du Galoupet
FILE PHOTO: A woman with a Louis Vuitton-branded shopping bag looks towards the entrance of a branch store by LVMH Moet Hennessy Louis Vuitton in Vienna, Austria October 4, 2018. REUTERS/Lisi Niesner/File Photo -
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Lisi Niesner(Reuters)
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PARIS (Reuters) - French luxury goods group LVMH has agreed to buy wine producer Le Chateau du Galoupet for an undisclosed sum, bolstering LVMH's portfolio of top wines and spirits, such as Veuve Clicquot champagne and Hennessy Cognac.

The Chateau du Galoupet site in the south of France covers 68 hectares of vineyards, mainly producing rose wine.

In 2017, LVMH bought a majority stake in Napa Valley's Colgin Cellars vineyard, which LVMH boss Bernard Arnault said would add to its other top wine brands such as Chateau d'Yquem and Chateau Cheval Blanc.

(Reporting by Sudip Kar-Gupta; Editing by Bate Felix)

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