Michelin buys a stake in international fine wine guide
MICHELIN, the tyre giant and owner of the Michelin gourmet restaurant guide, has bought a 40 percent stake in the Robert Parker Wine Advocate, the fine wine guide of influential critic Robert Parker.
Parker is considered by many within the industry as the world’s most powerful wine critic, and Michelin said that the acquisition would enrich the restaurant guide part of its business.
The financial terms of the deal were not disclosed.
Parker, who has had an unprecedented impact on the world of wine through his 100-point scoring system that can make or break wineries, founded the Robert Parker Wine Advocate in 1978. His publication produces nearly 40 000 reviews annually.
The Robert Parker Wine Advocate and Michelin have already been working together since 2016 in Singapore, Hong Kong and Macau on upmarket wine and dining events. Alexandre Taisne, chief executive of Michelin’s Food and Travel Business, said: “These services, which are aimed at creating memorable experiences, will be rolled out in Asia, the US and Europe by 2019.”
The majority of the capital of Robert Parker Wine Advocate is currently in the hands of Asian investors.
France awarded Robert Parker the Legion of Honour award in 1999. – Reuters