Latour Owner Pinault Buys Burgundy Vineyard Le Clos de Tart, Figaro Says

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.