Chateau Calon Segur Sold To Suravenir Insurance, Subsidiary of Banking Group Arkéa

The rumour mill has been rife over the potential sale of Chateau Calon Segur since April, hotting up in the last few days. I have not wanted to report prematurely as up until now family members were either denying the sale or refusing to comment.

However it has now been confirmed in the Sud Ouest newspaper that Calon Segur has been sold to Suravenir Insurance, a subsidiary of banking group Arkéa, which meets three federations Mutual Credit: Brittany, Massif Central and Southwest. Suravenir, a specialist in life insurance, manages 25 billion euros in assets for 1.8 million customers.

Jean-Pierre Denis, president of Arkéa and Credit Mutuel de Bretagne, explained that this a first for the mutual bank. “We wanted a reputable property, without precipitation. Calon-Segur has a big upside potential.

Like any insurance company, we diversify our assets. This long-term investment has a strong economic logic but also geographical: the Southwest is one of our principal areas of activity. It strengthens our presence here again, in an area of excellence.”

Jean-Pierre Denis (who was deputy secretary general of the Elysee under Jacques Chirac) will be relying on Jean-Francois Moueix (owner of Chateau Petrus, the negotiant from Duclot and Videlot Group) who assisted in the sale – as he had done in the past for the neighboring Chateau Montrose, when the Bouygues brothers acquired it in 2006.

Jean-Francois Moueix is now a minority shareholder.

Apparently a sale agreement was signed Friday, just before the deadline of June 30th which was set by the parties. The acquisition is expected to close before winter. The price paid is not known but the Sud Ouest estimate it to be around 170 million euros.

Alain de Baritault, husband of Helena Capbern Gasqueton, has said that:

“This sale is heart breaking for our family”

Helena had hoped to continue at the helm of Calon Segur after her mother’s death but it became impossible to settle the shares of two nieces given the sums involved so the sale became inevitable.

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