DIAGEO INDIA SOLD FOUR SEASONS WINES TO COMPETITOR GROVER ZAMPA
By Siulan Law Mathews DipWSET
Global wine and spirits giant Diageo’s Indian subsidiary, United Spirits, has sold its winery Four Seasons Wines in a bid to focus on its core spirits business in India.
Four Seasons Wines Ltd, controlling brands Four Seasons and Zinzi, will be sold to Indian company Grover Zampa Vineyards which has secured investments from Singapore-based wine investor Ravi Viswanathan, Quintela and AVT Group. Financial details of the sale have not been disclosed.
Grover Zampa Vineyards is India's second largest vineyard behind Sula Vineyards, with aspirations to grow sales over the next five years to half a million cases. The company currently sells about 220,000 cases per year.
“This deal brings us a step closer to the structural rationalisation and simplification of our India business,” said Sanjeev Churiwala, Executive Director and Chief Financial Officer of Diageo India.
“Four Season Wines is a niche business but a small part of the overall Diageo India portfolio and the sale will enable us to focus on our premiumisation strategy and grow our core spirits business in India,” he added.
Diageo has in recent years offloaded a number of wine assets to fcous on its spirits and beer portfolios, which include the Johnnie Walker, Smirnoff and Guinness brands.
Last year, it announced the sale of 19 entry level spirits brands to US company Sazerac for USD550 million as it targets on growing its premium spirits portfolio. Brands included in the transaction included Seagram’s VO, Goldschlager and Myers’s.
(the writer can be contacted at: SLawMathews@thewinechronicle.com)
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