IN VINO CARITAS Three Decades of Petrus Presented by NASDAQ OMX & The Wine Forum 12 November 2013
Introduction Few wines possess the exceptional brand recognition and consequent prices that Petrus enjoys. Probably the most famous wine in the world, it has been lauded by critics and drinkers alike in good years and bad. Uncompromising in their pursuit of excellence, their wines are consistently ranked among the most desirable in the world, topping the bill at auction houses globally. Yet the story of Petrus is a recent one compared with the long histories on the Left Bank. Partially acquired by Madam Loubat in 1925, this Pomerol plot remained relatively unnoticed until the excellent 1945 vintage. In 1961, on Madam Loubat s death, 50% was acquired by Jeanne-Pierre Moueix and subsequently the other 50% by his son Jean-François in 2001. The Moueix family have carefully nurtured the vineyard and distribution system since. Speaking with the Petrus team, they are always keen to stress they do nothing to the wine, but rather let the wine express the terroir. This terroir consists of the unique blue clay and excellent drainage together with a position at the very top of the Pomerol plateau. The Wine Forum extends a warm thank you to NASDAQ OMX who has partnered with us on this event. Enjoy the evening! David Spreng & Vidhi Tambiah Cofounders The Wine Forum 12 November 2013 1
Petrus Description extracted and adapted from the Oxford Encyclopaedia of Wine. The most famous wine of Pomerol and today the most expensive in Bordeaux. In the heart of the small Pomerol plateau, Petrus was partly bought in 1925, by Mme Loubat, wife of the owner of the Hotel Loubat in Libourne. By 1949, it consisted of 6.5 ha planted with 70 per cent merlot vines and 30 per cent cabernet franc. In 1969, 5 ha were purchased from the adjoining Ch Gazin, and gradually the balance between the two vine varieties was altered until it was 95 per cent Merlot and 5 per cent Cabernet Franc. Although it won a gold medal at the 1878 Paris International Exhibition, and the London-based wine society listed the 1893, Petrus received little international attention until the remarkable, tiny crop of 1945, and the much more widely distributed 1947. Its exceptional concentration of color, bouquet, and richness of flavor derives from a pocket of clay in the middle of the vineyard and the subsoil which affords exceptionally good drainage. Average production is 2,000 to 3,500 cases. However, its fame is largely due to M. Jean-Pierre moueix of the Libourne merchants, who started his business before the Second World War. He took over the sole distribution of Petrus in 1945, and, when Mme Loubat died in 1961, he acquired 50 per cent of the shareholding, while Mme Loubat s niece Mme Lily Lacoste inherited the other 50 per cent, which was acquired by Jean-Pierre s elder son Jean-François Moueix in 2001. Jean-François inherited his father s half in 2003 and now manages the property with Olivier, the son of the distinguished oenologist Jean-Claude Berrouet in charge of wine-making. The limited size of the property, and the availability of the Moueix team of pickers, mean that all the grapes can be harvested, at optimum ripeness, in half a day. Fermentation vessels are neither wood nor stainless steel, but cement. There is no official classification of Pomerol, but Petrus is unofficially recognized as a premier cru, and is distributed only through Moueix, with exclusive agents in the UK and restricted ones in the US. It tends to fetch a much higher price than any other red Bordeaux, and at auction achieves even higher prices relative to the rest. In 2005, a rather grander building superseded Petrus s modest farmhouse. In 2013, they opened stunning new winemaking facilities. Olivier Berrouet 2
The Wines Petrus 1986 The 1986 displays a monolithic character in its tea, herb, and dusty berry aromas. Dense and powerful with considerable tannin, this is an admirably concentrated, medium- to full-bodied wine.* Petrus 1996 The 1996 Petrus is a big, monolithic, foursquare wine with an impressively opaque purple color, and sweet berry fruit intermixed with earth, pain grille, and coffee scents. Full-bodied and muscular, with high levels of tannin, and a backward style, this wine (less than 50% of the production was bottled as Petrus) will require patience. It is a mammoth example.* Petrus 2006 Powerful, structured, masculine, but a long-term proposition, this dark ruby/purple-colored wine displays notes of caramelized, sweet black cherries and wild berry fruit with plenty of spice, earth, and a hint of herbaceousness. The wine has very high tannins, impressive concentration, but that mouth-searing level of tannin. This is one Petrus that should probably be forgotten for at least 8 to 10 years and drunk over the following two to three decades. I always find it ironic that Petrus, which is virtually 100% Merlot, is more backward than the first growths of Medoc, which are Cabernet Sauvignon-dominated.* *Notes from Robert Parker. 4 5
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