Abrau-Durso sold a champagne house in France
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The Abrau-Durso group of companies sold the French champagne house Chateau d’Avize, reported RBC group president Pavel Titov. According to him, the transaction took place in January 2022, he did not disclose its amount.
Mr. Titov explained that the decision to sell was made due to the fact that it was becoming more and more difficult for Abrau-Durso to work in France. He said that the asset was sold to a local winemaker, but did not provide other details.
The chateau was founded in the 19th century in the commune of Aviz in northeastern France. Now it produces three brands of wines: Foliage, Chateau d’Avize, Titov & Fils (“Titov and Son”). The exclusive rights to the Chateau d’Avize trademark were assigned to Societe Du Chateau D’Avize, which was liquidated in December 2022.
The President of Abrau-Durso specified that after the deal, the Titov & Fils brand remains with the Titov family. The company also agreed with the new owner on the further production and import of this wine to Russia, but supplies may be difficult due to European Union (EU) restrictions, Mr. Titov added.
The EU, under the fifth round of sanctions, introduced in April 2022, banned import of Russian alcoholic beverages. According to Agroexport, in 2021, Russia supplied to foreign markets more than 2.7 million deciliters of strong alcoholic beverages worth $195 million, including 2.3 million deciliters of vodka worth $160 million.
About the situation on the market – in the material “Kommersant” “Brewers measured volumes”.
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