Perfect China, the 51% shareholding partner in a joint venture Perfect Wines of South Africa (PWSA) formed with Leopard’s Leap Family Vineyards CEO Hein Koegelenberg, has acquired the assets of Val de Vie Estate in Cape Winelands, South Africa for an undisclosed amount.
The purchase includes the wine cellar, 25ha wine farm with 21ha of vineyards and a manor house, whereas the cellar facilities will be used by PWSA.
The L'Huguenot wine brand, which was born out of the joint venture, is distributed by Yangzhou-based Perfect China in Far East through its direct sales team, 5,000 depots in China and in other countries. The brand accounted for around 25% of the total South African wine exports to China in 2011 and 2012.
Koegelenberg, who is also chairman of PWSA and CEO of La Motte, said: "The Chinese wine market is very important to our industry and this first Chinese investment in the South African Winelands is a clear indication of their interest in our wines and can lead the way to a bright future for the export of SA wine to the East."
Now, with separate production and maturation facilities at Val de Vie, PWSA plans to expand them and also grow the L'Huguenot wine brand.
Elements Development Projects, the developer of Val de Vie Estate, CEO Martin Venter said they are excited to be working with Perfect China and Hein Koegelenberg, who have been leading the charge for South Africa's wine exports to the East specifically.
"The fact that a company the size of Perfect China chose Val de Vie clearly shows that our facilities, heritage and infrastructure, from the cellar to the restaurant and security, are world-class," Venter added.
"There is also a great resonance between the L'Huguenot brand and Val de Vie Estate with its French heritage dating back to 1783."
