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Rothschild Group to Expand into Central Otago

Akarua vineyard in the sun

The Bordeaux-based Edmond de Rothschild Heritage Group has received approval from New Zealand’s Overseas Investment Office to purchase the Akarua winery and vineyard. This takeover will enable the group to make its first organic wines.

The 52-hectare Akarua estate is located close to Cromwell in the Central Otago region. The group intends to convert the vineyard to organic viticulture. 

However, this is not The Rothschild Group’s first New Zealand purchase, it made a joint purchase in 2012 with Craggy Range of the 24-hectare Rimapere vineyard in Marlborough that is planted with Sauvignon Blanc.   

Commenting on the purchase, president of the Edmond de Rothschild Group – Ariane de Rothschild – highlighted that the Bannockburn soils were ‘on par with the Burgundy region’ and that they had the potential to create some of the world’s finest Pinot Noir.

Expanding further on the group’s strategy, she said: ‘The addition of our second New Zealand winery is part of our wider strategy to develop a portfolio of premium international wines from exceptional terroirs. Central Otago’s international reputation for Pinot Noir provides a unique opportunity for us to complete our range and move into the production of organic wines – one of the fastest growing categories.’

‘The purchase of Akarua has seen us add a winery with strong growth potential to our portfolio, expanding our Pinot Noir offering and solidifying our position as a premium producer that sells wines exclusively produced from our own vines,’ commented chairman of Edmond de Rothschild Heritage, Alexis de La Palme.

Sir Clifford Skeggs founded the Akarua estate in 1996. David Skeggs, managing director of the Skeggs Group, said of the recent acquisition: ‘It is not without sadness that we hand over the Akarua legacy to Edmond de Rothschild Heritage… But we are equally as excited to follow the brand’s future in New Zealand and overseas.’

Akarua currently produces over 60,000 bottles annually for both domestic and export markets. The wine will continue to be made and, from the 2023 vintage and beyond, certain elements of the Rothschild’s family crest will be included on the label. 

Edmond de Rothschild Heritage owns assets in wine, hotels and farming. Iconic wine brands in its portfolio include: Bordeaux’s Château Malmaison and a leading stake in Château Lafite Rothschild, Vega Sicilia in Spain and Rupert & Rothschild Vignerons – with the Rupert family – in South Africa’s Franschhoek Valley.

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Pinault Family forms Merger with Maisons & Domaines Henriot

Bottle of Henriot Champagne

The French billionaire and luxury goods magnate, Francois Pinault, has revealed a new merger with Maisons & Domaines Henriot. This deal will combine highly sought-after names in fine wine such as Bordeaux’s Château Latour, Burgundy’s Clos de Tart and Champagne Henriot all in one group.

This new group will adopt the name ‘Artémis Domaines’. With this new announcement, it was revealed that Francois Pinault will hold a 75% stake in the group, with the families behind Henriot controlling the remaining quarter.

This merger further consolidates the high-end French fine wine business. In recent years it has attracted investment from both foreign and corporate players, especially in regions such as Burgundy that historically was predominantly made up of boutique, family-run wineries. 

Brands that will now fall under Artémis Domaines include: Burgundy’s Clos de Tart and Domaine d’Eugenie – from the Pinault family – as well as Burgundy’s William Fèvre and Maison Henriot in Champagne, from Henriot. 

According to a statement, this new merger represents ‘a guarantee that a French group will ensure the long-term preservation’ of these brands and their winemaking expertise.

‘The merger of Maisons & Domaines Henriot and Artémis Domaines is a wonderful opportunity to bring together the treasures of our wine heritage under the same banner,’ Francois Pinault commented.

Further afield, Artémis Domaines will also be in charge of producers including Beaux-Frères in Oregon and Eisele Vineyard in California’s Napa Valley. Pinault is 86 years-old and has an estimated fortune of over $30 billion and is also an avid art collector, counting Christie’s in the family’s holdings also. 

This move sees Pinault strengthen the group against the other major luxury player in fine wine and fashion – LVMH – which owns Bordeaux’s Château d’Yquem and Château Cheval Blanc, as well as Burgundy’s Domaine des Lambrays and the Champagne brands Krug and Dom Pérignon. Read more about LVMH’s recent acquisition of California’s Joseph Phelps.

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The 2022 Burgundy Wines’ Real Potential

Report Cover

The Burgundy Wine Board (BIVB) announced that the wines from the 2022 Burgundy harvest have real ‘potential’. This vintage will be dedicated to Louis Fabrice Latour, the former president of the trade association, who passed away earlier this month.

Commenting on the recent harvest, the BIVB said that it had been ‘a pleasant surprise’ and that it was ‘a vintage of the kind we were all hoping for.’ Despite cold temperatures and frosts, the board is happy with both the quantity of grapes that will go into this year’s wines as well as their quality.

The 2022 Burgundy Vintage

The growing season began at the start of April having experienced a milder winter with less rain than usual. Temperatures dropped mid-April and two snaps of frost followed. Fortunately, budburst hadn’t taken place completely and buds were not fully exposed to the frosts, although some areas did experience small amounts of damage. 

Spring arrived and brought excellent conditions with it. Flowering took place two weeks earlier than usual which led to many commentators suggesting that the 2022 vintage could be one of the earliest ever. Thunderstorms in late June refreshed the vines but also brought some hailstorms which caused ‘significant damage’ in some areas.

Contrary to the belief that the harvest would start earlier than normal, pickers started harvesting Chardonnay on the 20th of August which is in line with previous years. It was a prolonged harvest due to the good weather which helped produce optimally-ripe grapes. 

The board agreed that this year’s grapes are ‘balanced with controlled degrees of alcohol and good acidity.’ It found that the compounds in the red grapes were ‘excellent’ which are needed for long-term ageing. The BIVB also commented that the musts of the whites and reds were ‘highly aromatic’ which is another positive sign. 

This year’s harvest is what the Burgundians had hoped for, as the 2021 vintage suffered very low yields and in turn triggered higher prices. However, 2022’s yields were still down on average.

Find out more about our initial thoughts on the Burgundy 2022 vintage in this article.

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Stags’ Leap Winery Appoints New Head Winemaker

Ludo Dervin in vineyard

One of the oldest wineries in Napa Valley’s Stags Leap District has appointed Ludovic Dervin as Senior Winemaker and General Manager. Christophe Paubert has managed the winery for 13 years and will retire after the 2022 harvest and return to France, his home country. Both Dervin and Paubert will work together on this year’s vintage.  

A fellow Frenchman who’s originally from the Champagne region, Dervin has been making wine in California since the 1990s. His CV boasts such prestigious wineries as Kendall Jackson’s Vérité, Hartford Court and Mumm Napa.

‘We believe Ludo’s global experience, diverse background and passion for producing world-class wines makes him an excellent choice to continue the Stags’ Leap Winery legacy,’ commented Rachel Ashley, Sr. Vice President, Supply, for Treasury Americas. ‘Christophe’s commitment to quality, authenticity and sustainability has made a profound impact on Stags’ Leap Winery and we feel fortunate that he led this historic property for many years.’

Dervin was attracted to Stags’ Leap’s signature style of winemaking in particular and commented that he’s ‘thrilled to join Stags’ Leap Winery as its newest caretaker and for the opportunity to work with a brand that is known for its refined elegance, finesse and level of traditionality that really showcases the incredible quality of the fruit.’ He also added that he’s ‘look(ing) forward to taking the leap into its newest chapter.’

Stags’ Leap Winery was established in 1893 in the eponymous Stags Leap District and continues to use traditional techniques to create estate wines from a 240-acre property situated on dark, well-drained volcanic soils. While the estate is best known for its classic Cabernet Sauvignon and Chardonnay, this authentic, time-tested brand is also admired for its expressions of Sauvignon Blanc, Petite Syrah and Viognier.

Read more about Shafer Vineyard’s recent purchase of a nine-hectare vineyard in the Stags Leap District here. 

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Updated Saint-Émilion Classification Announced

Exterior of Figeac

Bordeaux’s Saint-Émilion Classification is reviewed each decade and the seventh edition has now been released for 2022. 

Both the wine trade and wine lovers across the globe have been expectantly waiting for this new edition as the classification has experienced unprecedented withdrawals over the past year and a half. Châteaux Angélus, Ausone and Cheval Blanc – all Premier Grand Cru Classé A – decided not to be a part of the classification over the past 14 months as they felt too much emphasis was being placed on brand building and not on the wine itself. And, in June earlier this year, Château la Gaffelière (status ‘B’) also withdrew, highlighting a concern with tasting notes it was being given.

Château Figeac has now been promoted to Premier Grand Cru Classé A status where it joins Château Pavie. There was a real sense of disappointment when Figeac wasn’t promoted in 2012 so there will be plenty of celebrations for this well earnt result. 

Châteaux Canon and Troplong Mondot have both been working hard to gain promotions, although it wasn’t to be this time round. Interestingly, there were also no demotions, leading some commentators to speculate that the commission had played it safe in order to avoid attracting any further controversy.

While there may have been withdrawals and lawsuits recently, more than 140 estates are estimated to have applied to the commission. Ten years ago there were around 90. This demonstrates the value of the classification and what it means for those fortunate enough to be included in it: the opportunity to command higher prices for their wines.  

Below you can find a full list of the producers featured in the new Saint-Émilion Classification for 2022. 

Interested in finding out more about the recent Bordeaux Blanc harvest? Read our recent article here.

 

PREMIERS GRAND CRUS CLASSÉS

Château BEAU-SEJOUR BECOT

Château BEAUSEJOUR HERITIERS DUFFAU LAGARROSSE

Château BELAIR MONANGE

Château CANON

Château CANON LA GAFFELIERE

Château FIGEAC (Distinction A)

Château LARCIS DUCASSE

Château PAVIE (Distinction A)

Château PAVIE MACQUIN

Château TROPLONG MONDOT

Château TROTTEVIEILLE

Château VALANDRAUD

CLOS FOURTET

LA MONDOTTE

 

GRANDS CRUS CLASSÉS

Château BADETTE

Château BALESTARD LA TONNELLE

Château BARDE-HAUT

Château BELLEFONT-BELCIER

Château BELLEVUE

Château BERLIQUET

Château BOUTISSE

Château CAP DE MOURLIN

Château CHAUVIN

Château CLOS DE SARPE

Château CORBIN

Château CORBIN MICHOTTE

Château COTE DE BALEAU

Château CROIX DE LABRIE

Château DASSAULT

Château DE FERRAND

Château DE PRESSAC

Château DESTIEUX

Château FAUGERES

Château FLEUR CARDINALE

Château FOMBRAUGE

Château FONPLEGADE

Château FONROQUE

Château FRANC MAYNE

Château GRAND CORBIN

Château GRAND CORBIN-DESPAGNE

Château GRAND MAYNE

Château GUADET

Château HAUT-SARPE

Château JEAN FAURE

Château LA COMMANDERIE

Château LA CONFESSION

Château LA COUSPAUDE

Château LA CROIZILLE

Château LA DOMINIQUE

Château LA FLEUR MORANGE

Château LA MARZELLE

Château LA SERRE

Château LANIOTE

Château LAROQUE

Château LAROZE

Château LARMANDE

Château LA TOUR FIGEAC

Château LE CHATELET

Château LE PRIEURE

Château MANGOT

Château MONBOUSQUET

Château MONTLABERT

Château MONTLISSE

Château MOULIN DU CADET

Château PEBY FAUGERES

Château PETIT FAURIE DE SOUTARD

Château RIPEAU

Château ROCHEBELLE

Château ROL VALENTIN

Château SAINT-GEORGES (COTE PAVIE)

Château SANSONNET

Château SOUTARD

Château TOUR BALADOZ

Château TOUR SAINT CHRISTOPHE

Château VILLEMAURINE

Château YON-FIGEAC

CLOS BADON THUNEVIN

CLOS DE L’ORATOIRE

CLOS DES JACOBINS

CLOS DUBREUIL

CLOS SAINT-JULIEN

CLOS SAINT-MARTIN

COUVENT DES JACOBINS

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New ‘Rocas de Seña’ Label Released

Bottle of Rocas de Sena

The Chilean fine wine ‘Seña’ has released a second label called ‘Rocas de Seña’.  This new 2020 vintage was sold via La Place de Bordeaux along with its older sibling. Both labels sold out within hours of their release on the market on the 1st of September.

Both wines hail from the same area, a remote and biodynamically-farmed estate in the Aconcagua Valley. However, the grapes that go into the blend differ in both expressions. 

Over half of Seña is made with Cabernet Sauvignon (53%), with Malbec (25%) and Carmenère (15%) in support. Petit Verdot completes the blend, adding the final 7%. However, the main grape variety in Rocas de Seña is Malbec (38%) and has no Carmenère. Syrah (25%), Cabernet Sauvignon (15%) and Grenache (14%) also feature, with Petit Verdot adding a final flourish of 8%.

Just under 3,000 cases were made of the first vintage of Rocas de Seña, that’s around half the annual production of the Grand Vin.

Seña’s 2020 vintage was released up 6.2% on 2019’s opening price and is offered at £1,029 per 12x75cl case. Rocas de Seña 2020 is being offered under half the price of the Grand Vin at £426 per 12x75cl case.

Winemaker Francisco Baettig said at a tasting in London that he wanted Rocas de Seña to have its own character which is why he selected different grape varieties.

‘I did not want to make a copy of Seña just with younger parcels (of vines), I wanted to give a personality to Rocas, which is why I used Malbec as a base instead of Cabernet and some Mediterranean varieties, with Syrah and Grenache,’ he commented.

He added that Petit Verdot’s inclusion in the blend was important in order to create ‘tension’ in the wine, which is needed in this part of Chile, as well as in the moderately hot, dry 2020 vintage.

His aim is for ‘Rocas… not to be a Cabernet-based wine – we have that with Seña, as well as Chadwick and Don Max.’

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Bordeaux’s ‘Earliest Ever’ Harvest

Bordeaux vineyard at sunrise

Producers in Bordeaux welcomed the rain and cooler temperatures that arrived at the start of August with open arms. After six weeks of no rain, and with a prolonged heatwave, July of 2022 was announced as the driest on record since 1959.

The first white grapes of one of the key varietals that makes up the Bordeaux Blanc blend – Sauvignon Blanc – began arriving at wineries in the communes of Entre deux Mers, Graves and Pessac-Léognan from the 16th of August. The 2003 harvest that was previously considered very early, began on the 18th of August, making 2022 now the earliest ever vintage.       

The president of the Pessac-Léognan syndicate, Jacques Lurton, commented on this ‘earliest ever harvest,’ to French press agency AFP. He said that it was caused by ‘the exceptional conditions of the year that have speeded up ripening. Right now the aromatics are high in Sauvignon Blanc, making it the perfect moment to start bringing them in’.

Yields are expected to come in slightly under the 50-year average and are predicted to be between 13-21% higher than the 2021 harvest that was severely affected by frost. While there was a summer drought this year, both flowering and fruit set took place at the perfect time which meant that yields weren’t impacted too much.

The recent rain, up to 20mm in the majority of communes, has helped refresh soils and vines, as well as increasing the size of the grapes which are reportedly still some 30% smaller than usual.  

However, Bordeaux hasn’t been the only French wine region to have begun harvesting grapes early this year. The Rhône began on the 22nd of August: eight days earlier than last year. Roussillon also started picking grapes as early as the 3rd of August. Producers in both regions have expressed that, while the production levels may be down on average, they’re hopeful that great quality wines will be made.

Read more about the small but exceptional Port vintage expected in the Douro here.

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Small but Exceptional Port Vintage Expected in the Douro

Panorama of the sunny Douro valley

As the Port producing region of the Douro has just begun grape harvesting, producers are expecting dramatically reduced yields this vintage due to the impact of extreme heat and drought conditions that have characterised 2022. 

This year’s rainfall is more than 70% lower than the 30-year average and follows on from three years of below-average rainfall. Producers in the region are becoming increasingly concerned about this series of drier years. They are most worried about their younger vines as they are more susceptible to drought and hydric stress as the roots don’t reach as far down into the ground as those of older, established vines.

Less rainfall means reduced grape yields which in turn means higher production costs for winemakers at a time where there are other inflationary pressures at play. 

Another factor that has exacerbated the lack of rain is the combination of heat and wind. CEO at Taylor Fladgate, Adrian Bridge, commented that ‘the wind normally picks up at 6pm, but at 2pm it has been whistling up the (Douro) valley – having a hairdrier effect on the vines, so the grapes are shrinking’. He added that this has contributed to the grapes having very thick skins this year and a lot more grapes will be required to make the same quantity of Port.

‘I believe that this is going to be one of the lowest yielding harvests ever in the Douro,’ commented former chairman of Symington Family Estates, Paul Symington

However, while producers will have to wait over the coming weeks to see just how much wine it will be possible to make, there’s a sense of optimism among the Douro winemakers that this year’s vintage will turn out to be a small but exceptional one. 

Christian Seely, managing director at Quinta do Noval, commented that: ‘The occasional hot dry year is not a disaster and can produce remarkable, memorable wines: ‘45 and ‘17 had that sort of profile and both of them produced some of the most remarkable vintage Ports ever produced – and in 2017, remarkable red wines too, to my surprise’.

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China Suspends all Imports from Australia & New Zealand

Australia and Chinese flags with tear in middle

China has suspended all imports from Australia and New Zealand, including wines, dairy products and beef, according to the country’s official logistics trade association: China Federation of Logistics and Purchasing (CFLP). The ban is set to significantly escalate tensions between China and its Pacific neighbours.

In a post by the Food Ingredients Supply Chain Association under the country’s official logistics trade association (CFLP), it announced that on the 15th of August an order had been given which requests incoming cargo wait at each port for further notice.

The news has not been officially announced by the Chinese Customs Administration, but the association highlighted that relevant organisations working in customs and logistics have already been informed.

It’s currently unknown whether this will be a temporary ban or long-term one. While the CFLP hasn’t given its reasons for the ban, it did cite Australia’s revoking of the ‘One Belt, One Road’ deal as having damaged mutual trust between the nations.

What’s made the situation even more confusing is that within just 24 hours after the CFLP published its article, it was deleted. Anyone now trying to open the WeChat post is presented with an error message that says ‘the article has been deleted by the author.’

Trade

New Zealand’s exports to China totalled US$22.83 billion in 2021 with the main products being lamb, butter and cheese.

Australia and China’s relations have been worsening since 2017. Recently, tensions were heightened due to the origin of Covid, 5G and Huawei that resulted in China imposing hefty tariffs in 2020 on Australian goods such as wine and barley.

Despite the tensions between the two nations, China is still Australia’s number one trade partner, with the Asian country having imported US$164 billion, over 40% more in value than a year ago according to China’s Ministry of Commerce.

If legitimate, the ban would be a huge blow to bilateral trade as the administration in Canberra has been in talks with the Chinese for over two years in a bid to repair relations.

What’s more, the timing couldn’t be worse as 2022 marks the 50th anniversary of diplomatic relations between China and Australia.

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3 Bordeaux Appellations Permitted to Irrigate Vines

Saint-Emilion church and vineyard

In a year of drought, heatwaves and fires, producers in the three Bordeaux appellations of Pessac-Léognan, Pomerol and Saint-Émilion have been given special dispensation to water their vines. 

The lack of rain this year has been so pronounced that Météo France, the French national weather service, declared that July of 2022 was the driest on record since 1959. Irrigation is usually banned in the region from the 1st of May onwards. However, producers sent a request to the regulatory body, the Institut National de l’Origine et de la Qualité (INAO), which issued a derogation in light of the ‘extreme situation’ facing Bordeaux châteaux. Winegrowers are permitted to water their vines during times of persistent drought with permission and only if the drought ‘disrupts the good physiological development of the vine and ripening of the grapes.’ The vignerons were told by the INAO that their request was granted in this case but to use it when ‘only absolutely necessary’.

In Pomerol, the derogation states that producers must submit their proposals for irrigation two days ahead of any activity, along with the size of the vineyard area and grape varieties to be watered. Grapegrowers must also only use water from wells near the vineyard sites and not from the network.

The threat drought poses to vines, especially young vines, is hydric stress. This means that vines can’t get enough water to flourish and are unable to build up sufficient levels of sugars which delays ripening and harvest. Older vines have deeper roots which can draw water from further underground but vines aged between three to eight years old need the most attention.

The permission to irrigate vines is a much needed lifeline for wine producers this year who have had to deal with April frosts, the June hail storms, fires and a heatwave. With forest fires having started up again around Bordeaux, the region’s châteaux will be praying that the next few weeks bring cooler temperatures and long overdue rain.