Grover Zampa to acquire Four Seasons, associated wine brands from USL

Photo by Kym Ellis on Unsplash

India’s largest liquor company United Spirits Ltd (USL) has agreed to sell its wholly-owned subsidiary Four Seasons Wines Ltd and associated brands to Grover Zampa Vineyards Ltd, the country’s second-largest winemaker in terms of volumes. The shares will be sold to Grover Zampa and Quintela Assets Ltd, an existing investor in Grover Zampa, for Rs 31.86 crore.

Ever since British distiller Diageo Plc took over the reins at USL, the company has focused on premiumising its portfolio and growing its core spirits brands. The Four Seasons divestment is a part of its strategy to monetise non-core assets, USL said in a statement on Tuesday.

“This deal brings us a step closer to the structural rationalisation and simplification of our India business. The (Four Seasons) wine business is a niche, 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,” Sanjeev Churiwala, executive director and chief financial officer of USL-Diageo, said in the statement.

USL expects the share sale agreement to be completed on 16 January. Following the completion, USL will not hold any shares in Four Seasons and the latter will cease to be its subsidiary.

Grover Zampa is also set to buy Hindustan Construction Company’s Charosa brand, the Times of India reported last week citing people in the know. It would be the third wine brand Grover Zampa is set to acquire this month, along with Four Seasons and Bengaluru-based Myra vineyards. The winemaker is consolidating its position in a market that is dominated by Sula Vineyards Pvt. Ltd, India’s no. 1 wine company.

Also Read:

Winemaker Grover Zampa to acquire USL, HCC wine assets

Indian wine-maker Grover Zampa eyes $18m funding from Quintela, AVT, others

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.