Sula Vineyards Limited has informed the Exchange about Agreements
SULA · price
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Sula Vineyards' wholly-owned subsidiary Artisan Spirits Private Limited (ASPL) has signed an Asset Purchase Agreement to buy the land, buildings, plant and machinery of the Domaine Chandon India estate in Dindori, Nashik from Moët Hennessy India Private Limited (a subsidiary of LVMH). The deal is valued at Rs. 20 Crores plus taxes and statutory levies, with additional consideration for inventory to be determined closer to closing. The acquisition will be funded through a mix of internal accruals and debt, paid in two tranches subject to closing conditions. The estate is strategically located next to Sula's existing winery in Dindori, and the company expects the deal to boost its wine tourism business, which it calls its strongest growth segment. The transaction is not a related-party deal and is domestic in nature.
This is a small, strategic bolt-on acquisition (Rs. 20 Crores is modest relative to Sula's size) that strengthens its wine tourism footprint in Nashik and brings an LVMH-linked estate into its portfolio. Positive for long-term growth narrative, but the financial impact is likely limited in the near term given the deal size and debt component.