In a dramatic return, Don St. Pierre Jr. and Monica Xu St. Pierre, the husband-and-wife team, have reached a deal to reacquire 100% ownership of ASC Fine Wines, the company announced today, marking a major turning point for one of China’s oldest and most influential wine importers.
The news marks one of the most high-profile shakeups in China’s wine industry in recent years and reintroduces a pioneering figure at a time when the market is grappling with prolonged decline and in need of fresh leadership and direction.
The transaction, expected to close in the coming months, marks a full-circle moment for ASC as it returns to its founding family more than 16 years after it was sold to Japan’s Suntory Group in 2009. Financial terms of the deal were not disclosed.
Founded in 1996 by Don St. Pierre Jr. and his father, Don St. Pierre Sr., ASC was a trailblazer in introducing premium wines to mainland China. It was lauded by wine critic Robert Parker as “the greatest wine distributor in China” after he attended a high-octane dinner held on China’s Great Wall in 2008.
In 2009, it was sold to Suntory after years of rapid expansion. Its reacquisition by the St. Pierre family is a rare reversal in a market where foreign capital has recently been pulling back, following the sales of Summergate Fine Wines and Torres China to local giant Wajiu.
The reacquisition represents “both a return to its roots and the beginning of an exciting new phase designed to position ASC for long-term growth and innovation,” the company said in a statement.
“We are excited to bring ASC back into the family fold,” said Don St. Pierre Jr., Co-Founder & Chairman of AdaptEdge, who will assume the role of Executive Chairman and CEO of ASC. “ASC’s reputation for excellence has been built over decades, and we are committed to preserving that while positioning the company for future growth. The evolving Chinese market presents a unique opportunity for us to innovate and provide new ways for wine producers to engage with consumers.”
Under the leadership of the St. Pierre family, ASC will remain committed to its core strengths— professionalism, customer service, and transparency—while evolving into a next-generation platform designed to meet the changing needs of China’s wine market. This transformation will be driven by cutting-edge technology, direct-to-consumer models, and best-in-class warehouse and logistics partnerships. Further announcements are expected in the coming months.
Monica Xu St. Pierre will serve as Lead Director, focusing on people, culture, and consumer experience.
“We are incredibly proud of our team and look forward to working together to build ASC into an even more dynamic and forward-thinking company,” said Monica Xu St. Pierre.
ASC emphasized that operations will continue without disruption during the transition. The company reaffirmed its commitment to its existing brand partners and said it will also look to selectively introduce new labels aligned with emerging consumer preferences.
The company remains focused on expanding distribution for its world-class suppliers in China, aiming to guide their brands through a challenging market that is expected to evolve with new consumer behaviors and distribution models.
“Our focus will be on strengthening the reach of our existing brands while selectively introducing new ones that complement ASC’s growth strategy and the changing needs of the market,” said Don St. Pierre Jr.
With a renewed vision, deeper consumer engagement, and a sharpened focus on innovation, ASC is entering a new era. The company said additional strategic partnerships, investments, and initiatives will be unveiled in the coming months to further cement its leadership in China’s wine industry.
The company boasts a portfolio of over 1,200 premium labels from more than 100 renowned wineries worldwide, including France’s E. Guigal and Grand Bateau, Italy’s Gaja, Banfi, and Masi, Spain’s Vega Sicilia, Australia’s Yalumba, Chile’s Cono Sur and Lapostolle, and the U.S.’s Robert Mondavi and Shafer, among others.
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