ASC Fine Wines, a leading wine importer in China, is returning to its roots. The company’s founding family, led by Don St. Pierre Jr. and Monica Xu St. Pierre, has repurchased full ownership from Japanese beverage giant Suntory, ending a 15-year chapter under the latter’s control. Established in 1996 by Don St. Pierre Sr. and his son, ASC grew into a powerhouse in the Greater China region’s wine market before Suntory acquired it in 2010. Now, with this deal expected to finalize in the coming months, the family is reclaiming the reins.
Don St. Pierre Jr., who will take on the roles of executive chairman and CEO, expressed enthusiasm about bringing ASC back into the family fold. “We’re excited to steer the company toward long-term growth and innovation,” he said. Monica Xu St. Pierre, stepping into the position of chief director, will focus on nurturing the team’s culture and enhancing consumer experiences. Their leadership signals a renewed emphasis on the personal vision that first propelled ASC to prominence.
The transaction marks a notable shift for a business that has long been a fixture in China’s wine scene, distributing premium labels across the mainland, Hong Kong, and Macau. While Suntory’s exit after more than a decade of ownership has not been detailed publicly, it aligns with broader movements among global beverage giants adjusting their portfolios. For ASC, the return to family hands offers a chance to adapt more nimbly to a dynamic market. Though China’s wine sector has faced headwinds in recent years, the St. Pierre family appears ready to chart a fresh course for the company they built.
