Sula Vineyards Buys Chandon India Estate

Sula Vineyards, India’s largest wine producer, has bought the estate that once housed Chandon India in Nashik, Maharashtra, in a deal that underscores how wine tourism is becoming as important to the country’s wine business as production itself.

Rajeev Samant, Sula’s founder and chief executive, said the company paid INR 200 million, or about £1.6 million, for the land, winery building, vineyards and related assets. The purchase does not include the Chandon brand, which remains with Moët Hennessy. Production of Chandon sparkling wines in India will end after the transition, and the estate will take on a new name once the transaction closes.

The acquisition comes as Moët Hennessy exits local wine production in India after more than a decade. Sula said the deal is being carried out through its wholly owned subsidiary, Artisan Spirits Private Limited, and is expected to close by the end of the first quarter of fiscal 2027, pending regulatory approvals.

Samant said the talks moved quickly by merger-and-acquisition standards. Serious discussions to agreement on key terms took about one month, he said. Sula then filed the transaction with the National Stock Exchange of India and issued a public statement.

For Sula, the purchase adds to an already dominant position in India’s domestic wine market. The company says it holds about 50% of domestic wine sales and produces more than 1 million cases a year across labels including Sula, Dindori, The Source and Rasa. But Samant said the bigger opportunity now lies in hospitality and visitor spending.

Wine tourism has become Sula’s fastest-growing business line, he said, and has passed INR 1 billion in revenue, or nearly £8.1 million. The company says it welcomes about 330,000 visitors a year across its wineries, tasting rooms and resorts. Its hospitality portfolio includes three luxury resorts in Nashik — The Source, Beyond and The Haven — along with four standalone wine-themed restaurants and tasting rooms in Nashik and near Bengaluru.

Samant said his first visit to the Chandon estate convinced him it should be part of Sula’s long-term plan. He described the property as having strong views, a good location and a winery building that already fits his company’s needs. The estate is near Sula’s Dindori winery and about 20 minutes from Nashik airport. A government-owned hill behind it limits large-scale development nearby, which Samant said helps preserve the setting.

The timing also matters for Nashik’s tourism economy. The city is preparing for Kumbh Mela in 2027, when millions of pilgrims are expected to arrive over several months. Nashik airport is being expanded to handle more flights and passengers, a change that could also benefit wineries in the region. Samant said he sees an opening for visitors to combine religious travel with winery visits.

Sula plans to expand the tourism side of the newly acquired property while keeping its existing architecture and production facility intact. The main change under consideration is a larger tasting room. Samant said the current space is small for what he wants to build there and suggested more details would be announced in the coming months.

The deal strengthens Sula’s role as India’s leading integrated wine company at a time when growth in tourism is outpacing growth in traditional wine sales. For Samant, who has called the project Project Paradise, the acquisition is both a business move and a personal one.