The country’s No. 2 winemaker, Grover Zampa Vineyards, is all set to buy the wine assets of United Spirits (USL) and Hindustan Construction Company (HCC) for Rs 67 crore. This deal will bolster its sales in Asia’s third-largest economy.
United Spirits’s wine brand is Four Seasons, whereas Hindustan Construction Company’s is Charosa.
The subsequent deals in the wine division will help Grover Zampa, which is backed by I-banker Ravi Viswanathan( a French national based national based in Singapore), to mark its position in the market dominated by Sula Vineyards.
Grover Zampa sells around 2.60 lakh cases annually whereas Sula sells more than 10 lakh cases in a year. Fratelli Wines is following them and hold third position.
Four Seasons’ vineyards is spread over 50 acres in Baramati, while Charosa’s winery is nestled amid 230-acre vineyards in Charosa village, both in Maharashtra.
HCC, entered the wine business in 2014. It was promoted by Ajit Gulabchand. But there was a change in strategy is because of losses and debts. HCC’s subsidiary Lavasa Corp, the country’s first privately developed city, is undergoing bankruptcy proceedings.
Grover Zampa which was originally Grover Vineyards, was founded by Kanwal Grover in 1988. In 2012, it merged with Vallee de Vin, the owner of the Zampa brand, in order to form the current corporate entity. After the acquisitions of Four Seasons and Charosa, the Grovers’ stake will come down to 6% from 11%, while Viswanathan’s will increase from 50% to 69%.