UB ACQUIRES BOUVET FOR $18 MILLION

Indian whiskey group McDowell (a division of UB Group) has taken over French winemaker Bouvet Ladubay – based in France’s Loire Valley - for a reported sum of $17.7 million. Bouvet is the wine division of France’s Taittinger champagne group, which UB failed to acquire due to a general feeling that champagne should remain in French hands.

Taking a cut out of traditional beer and liquor consumption, wine has become increasingly popular in India - especially among the upper class. McDowell will put those trends to their advantage by introducing Bouvet to the Indian market, imported and bottled in France as well as sent in bulk to be bottled in India.

Last year, Bouvet sold more than 3 million bottles of wine, earning revenues of more than $14 million.