LVMH buys into luxury rose wine

Moet Hennessy, LVMH's wines and spirit unit, said on Friday it had acquired a 55% stake in Chateau d'Esclans, a rose wine producer in the scenic Var region of southeastern France.

Chateau d'Esclans, the leading Provence Rose in the American market, joins Moet Hennessy's portfolio of wines and spirits," the company said in a statement.

Chateau d'Esclans estate stretches across 267 hectares of which 74 hectares are planted with AOP Cotes de Provence vineyards, which would be extended by 60 hectares.