King Power Group, a Hong Kong-based Duty-Free business and a member of the International Tourism and Retail Association, has acquired Chateau Bernadotte of France from Champagne Louis Roederer for an undisclosed amount.

Located at 33250 St Sauveur region of France near the Haut-Medoc AOC appellation, the Bernadotte estate covers around 40ha of vineyards with average annual production of 200,000 bottles.

The acquisition is a part of global strategy of the group to expand its business in various verticals.

Chateau Bernadotte was previously owned by Champagne Louis Roederer, which purchased the estate along with Chateau Pichon Longueville Comtesse de Lalande in 2007.

The acquisition of Chateau Bernadotte will allow King Power to expand its food & beverages and retail services branches, whereas the estate will get support from King’s existing retail network to develop in international markets.

With the purchase, King Power plans to import key international brands into China and other countries in Asia.

The transaction was supported by Gide Loyrette Nouel and Ernst & Young Bordeaux for King Power Group and by Wine Bankers & Co and Fidal Bordeaux for Champagne Louis Roederer.