ASC Fine Wines Returns to Family Ownership

Following the early April announcement of ASC Fine Wines' buyback by the St. Pierre family from the Japanese Suntory Group, both parties officially signed the share purchase agreements on June 2. As reported by Hong Kong-based industry platform Vino Joy News, the move marks a full circle for ASC, one of China's oldest and most important wine importers, as it returns to the hands of its founding family more than 16 years after being sold to the Japanese Suntory group in 2009. The financial terms of the deal have not been disclosed.
 

Strategic Realignment

Immediately after the transaction, Don St. Pierre introduced a new business strategy titled “ASC NextGen.” The revamped model is based on three pillars “aligned with the evolving dynamics of the Chinese wine landscape,” the company stated. First, ASC plans to reinforce its traditional distribution model by expanding its presence in major Chinese cities, with national key accounts and on leading e-commerce platforms. Second, the company will accelerate its direct-to-consumer efforts, notably through the launch of The VintEdge Society by ASC, an exclusive membership club. The third pillar will offer tailored go-to-market solutions for brand partners seeking greater control over their strategies in China.

To support this transformation, ASC has partnered with cold-chain logistics provider GFS, which is backed by global logistics group GLP. With 33 temperature-controlled warehouses across 23 Chinese cities, GFS will deliver specialized wine logistics and fulfillment services tailored to ASC’s portfolio.
 

China’s Most Influential Wine Merchant

Today, ASC Fine Wines distributes over 1,200 premium labels from more than 100 renowned wineries worldwide, including E. Guigal, Gaja, Vega Sicilia, Cono Sur, and Robert Mondavi. Founded in 1996 by father and son Don St. Pierre under the name Asia Solution Corporation (ASC), the company played a key role in opening mainland China to the fine wine market. Don St. Pierre Sr. had been active in China since 1985 as Vice President of Jeep Beijing and gained notoriety in the business world for his unconventional methods.

After a high-profile failure with Eagle Exim – a venture intended to export ammunition from China to the U.S. – father and son shifted to wine, starting with imports of Bollinger, Beringer, Petaluma, and Col d'Orcia from Hong Kong. This soon led to a partnership with La Place de Bordeaux, one of the most consequential alliances in recent global wine history, enabling ASC to open offices in Guangzhou and later in Shanghai.

Years after this expansion, wine critic Robert Parker named ASC “China’s most important wine merchant” in 2008. The company was sold to Suntory in 2009. Vino Joy News described the St. Pierre family’s buyback as “a rare reversal in a market where foreign capital has recently been retreating, following the sales of Summergate Fine Wines and Torres China to domestic giant Wajiu.” SP