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Article: LVMH BUYS VINEYARD STAKE.(Newton and Mount Adam vineyards)(Brief Article)
- Article from:
- WWD
- Article date:
- January 8, 2001
CopyrightCOPYRIGHT 2001 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PARIS -- French luxury group LVMH Moet Hennessy Louis Vuitton said Thursday it had acquired majority stakes in the Newton and MountAdam vineyards for about $47.5 million (converted from euros at current exchange).
LVMH, headed by French businessman Bernard Arnault, already controls champagne makers Moet Chandon and Veuve Clicquot, as well as France's Chateau d'Yquem, Cloudy Bay in New Zealand, Cape Mentelle in Australia and Terrazas in Argentina.
Newton Vineyard, a 60-hectare (148- acre) estate located in Napa Valley, Calif., produces chardonnay, cabernet ...