The Abrau-Durso group of companies sold the Champagne house in France Chateau d’Avize. The sale agreement took place in January 2022. Doing business in the country in recent years has become increasingly difficult, in connection with this, the company began to search for a buyer for the asset.
The champagne house was acquired by a local winemaker, but the name and amount of the transaction were not disclosed, RBC reported, citing the head of the group, Pavel Titov.
After the sale of the company, the Titov & Fils brand remains with the Titov family. Representatives of Abrau-Durso agreed with the new owner on the production and supply of wines under this brand to Russia. The agreements may complicate restrictions on the import of premium wines from European Union countries, added Pavel Titov.
In 2010, Chateau d’Avize was estimated at 5 to 10 million euros, with a planned investment of up to 12 million euros over five years. The first batch of commercial custom Chateau d’Avize wine was released in 2017. They now produce Foliage, Chateau d’Avize, Titov & Fils.
Author:
karina pardaeva
Source: RB
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