Mumbai, March 25 Sula Vineyards, a wine producer, announced on Wednesday the acquisition of Chandon's wine production facility and estate in Dindori, Nashik, for ₹20 crore, which will help expand its wine tourism footprint.
Sula Vineyards is pleased to announce that it has signed a definitive agreement with Moet Hennessy India to acquire Chandon's estate in Dindori, Nashik, for ₹20 crore, according to a statement. The funds will be raised through internal accruals.
Chandon's wine production facility spans 19 acres, comprising a highly advanced facility with an annual capacity of 4.5 lakh litres, scalable up to 13 lakh litres.
The acquisition is being undertaken through the company's wholly-owned subsidiary, Artisan Spirits (ASPL), and is expected to be completed by the end of the first quarter of FY27, subject to the completion of regulatory approvals.
Following completion, Chandon will cease wine production in India, and Sula will market wines produced from the estate under its own brand, with no ongoing use of the Chandon brand.
"Dindori is widely regarded as the home of India's finest wine grapes, and this acquisition strengthens our presence here. Building on the success of our flagship wine tourism destination near Gangapur Lake in Nashik, the most visited vineyard globally, attracting over 3 lakh visitors annually, we see strong potential to develop another landmark destination wine resort in Dindori," said Rajeev Samant, founder and CEO of Sula Vineyards.