PARIS U.S. sports magnate Stanley Kroenke, who is the majority shareholder of London soccer club Arsenal, has bought into leading French vineyard Bonneau du Martray, the parties behind the deal said on Thursday.
The French family which owns the site, best-known for the highly-ranked 'Grand Cru' Corton-Charlemagne and Corton wines, said it had sold a majority stake to Kroenke. The financial terms were not disclosed.
Billionaire Kroenke's business and sports empire includes Arsenal as well as the U.S. Denver Nuggets basketball team and the Rams American Football team, although he also owns Californian vineyards such as Jonata and The Hilt.
Jean-Charles Le Bault de la Moriniere, whose family has owned the Domaine Bonneau du Martray site in Burgundy for nearly 200 years, said the deal would boost their overseas presence.
"We are very happy to have struck this partnership with Stan Kroenke and his team, which will allow us to strengthen our international presence even more," he said in a statement.
Arsenal are currently fifth in England's top-ranked Premier League, having gradually slipped down from first place after suffering two consecutive defeats in December.
(Reporting by Pascale Denis; Writing by Sudip Kar-Gupta; editing by John Irish)