French billionaire Francois Pinault's investment vehicle Artemis has bought the Burgundy Grand Cru vineyard Le Clos de Tart for more than 200 million euros ($232 million), according to Le Figaro.
The property, which covers 7.53 hectares (18.6 acres), is situated in Morey-Saint-Denis and is the biggest single-owner grand cru in Burgundy, Le Figaro said. The purchase price equates to more than 26 million euros per hectare, and gives Artemis control of the 25,000 bottles a year produced from the property which sell for between 200 and 500 euros each. It's a close neighbor of Le Cos des Lambrays, a vineyard bought in 2014 by Bernard Arnault's LVMH Moet Hennessy Louis Vuitton SA for a little more than 100 million euros, Le Figaro said.
Pinault owns Bordeaux first-growth estate Chateau Latour in Pauillac, while Arnault's LVMH has joint ownership of Chateau Cheval Blanc in Saint Emilion, as well as controlling Chateau d'Yquem in Sauternes.