McDowell acquires French wine company

Mumbai, July 13: Mcdowell&Company Ltd has acquired a French wine company, 'Bouvet Ladubay SAS', for a consideration of Euro 14.75 million.

Announcing this, the Company said this acquisition has been made by Asian Opportunities and Investments Ltd, the companys wholly owned subsidiary in Mauritius. McDowell has funded this acquisition which cost about Euro 15 million, from the proceeds of GDR issue or internal accruals.

Consequent to the above, Bouvet Ladubay SAS and its wholly owned subsidiary, Chapin Landais SAS have become wholly owned subsidiaries of Asian Opportunities and Investments Ltd and to that of the company.

Bouvet Ladubay is a long established Winery, set up in 1851 in the Loire Valley of France, a noted wine growing region.

The state-of-the-art winery producing sparkling wine by using the traditional Methode Champenolse, produces a distinctive and superior quality of wines, which are well received at premium prices in France, Germany, UK, USA, etc. Sales of over 3 million bottles last year resulted in revenue of Euro 12 million, on which the company produced an EBITDA of over Euro 1 million.

UNI