Sula Vineyards Limited has signed a definitive agreement to acquire Chandon's world-class wine estate in Dindori, Nashik, from Moët Hennessy India Private Limited for ₹20 crore. The transaction represents a strategic expansion into premium wine production and tourism capabilities, with the acquisition being undertaken through the company's wholly-owned subsidiary, Artisan Spirits Private Limited.

Estate Details and Production Capabilities

The Chandon estate spans 19 acres and comprises a highly advanced wine production facility with significant scalability potential. The property features comprehensive wine-making infrastructure alongside premium hospitality facilities designed for wine tourism experiences.

Strategic Location and Tourism Infrastructure

The estate is strategically positioned just 20 minutes from Nashik Airport, which is expected to see increased connectivity ahead of the upcoming Kumbh Mela. The property includes an ultra-premium visitor centre, banquet facility, and existing hospitality facilities that Sula will commence operating immediately upon handover. The proximity to Sula's existing wineries in Dindori enables seamless operational integration and efficient management.

Transaction Structure and Timeline

The asset purchase agreement covers land, buildings, and winemaking infrastructure while excluding all brand-related assets. Following completion, Chandon will cease wine production in India, and wines produced from the estate will be marketed by Sula under its own portfolio with no ongoing use of the Chandon brand.

Strategic Vision and Market Impact

According to Rajeev Samant, Founder & CEO of Sula Vineyards, this acquisition represents a once-in-a-lifetime opportunity to acquire a world-class estate in Dindori, widely regarded as the home of India's finest wine grapes. Building on the success of Sula's flagship wine tourism destination near Gangapur Lake, which attracts over 3 lakh visitors annually as the most visited vineyard globally, the company sees strong potential to develop another landmark destination wine resort. The transaction is expected to play a key role in the next phase of growth for Sula's wine tourism business, leveraging the estate's strategic location and picturesque setting.

Sula Vineyards Limited has successfully obtained Central Government approval for the re-appointment of Mr. Rajeev Samant as Managing Director and Chief Executive Officer, completing the regulatory approval process that began in November 2025.

Central Government Approval Received

The company announced on 20th March, 2026 that it has received approval from the Central Government under Section 196 read with Schedule V of the Companies Act, 2013. This approval was mandatory since Mr. Rajeev Samant qualifies as a non-resident under applicable provisions, making his re-appointment subject to Central Government clearance rather than standard company procedures.

Previous Approvals Obtained

The re-appointment process had already secured necessary internal approvals before seeking Central Government clearance. The Board of Directors approved Mr. Samant's re-appointment at their meeting held on 10th November, 2025. Subsequently, shareholders provided their approval through a Postal Ballot conducted on 12th December, 2025.

Regulatory Compliance Requirements

The company filed the necessary application and submissions with the Ministry of Corporate Affairs as required under the Companies Act, 2013. Since Mr. Samant's re-appointment was not in conformity with conditions specified under Schedule V due to his non-resident status, Central Government approval became a mandatory regulatory requirement.

Leadership Continuity Secured

With all regulatory approvals now in place, Mr. Rajeev Samant will continue leading Sula Vineyards as Managing Director and Chief Executive Officer for the next three years. The approval ensures leadership continuity for the wine company as it moves forward with its business operations and strategic initiatives.

The company has informed both NSE and BSE about this development in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically under Regulation 30(7) requirements for material disclosures.