Sula Vineyards buys Moët Hennessy wine estate in India [Yahoo! Finance]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Yahoo! Finance
In a filing to Bombay Stock Exchange, publicly listed Sula Vineyards said it agreed to buy the Chandon wine production facility and estate in Nashik in the northern state of Maharashtra. The deal includes the land, buildings and winemaking infrastructure, “while excluding all brand-related assets” of Chandon, according to the filing. Rajeev Samant, the founder and CEO of Sula Vineyards, said: “This is a once in a lifetime opportunity to acquire a truly world-class estate.” Located in Dindori in Maharashtra's Nashik district, the estate spans 19 acres. The winery has capacity of 450,000 litres per year, with scope to expand to 1.3 million litres. The site also includes a visitor centre and five acres of vineyards. In a statement to Just Drinks , Moët Hennessy, the wines and spirits division of the luxury group LVMH, said "Chandon and its products remain part of the group's portfolio". It added: "Distribution and marketing in India will continue to be operated by Moët Henness
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