Integra Essentia has acquired Chateau Indage Winery assets near Pune for worth Rs 40 crore. The New Delhi based company in an exchange filing informed that the acquisition is in line with the vision to expand its footprint in the FMCG businesses.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The purchased assets are situated in Narayangaon town of Pune district which has an optimum climate for grape cultivation. Narayangaon is known for its world-class high-quality grapes. The assets include a land parcel of 58,612 square metres (sqm), buildings cover area of 16,629 sqm and equipment include 60 lakh litres of stainless steel storage among others.

The acquisition is part of the company's pre-defined long-term business growth strategy, Integra Essentia said in a regulatory filing.

The statement said that the latest deal will strengthen the company's presence in the entire supply chain spectrum of consumable goods.

Also, read- What is credit card balance transfer? How it can help you save money - Know details

"Integra Essentia Limited is pleased to announce that it has purchased assets of Chateau Indage Winery for Rs 400 million, as a part of its pre-defined long-term business growth strategy," the filing said.

"The company is making every effort to strategically align all the components of the supply chain. The latest purchase of winery assets is one such step," Vishesh Gupta, MD, Integra Essentia, said in a statement. He added that the acquisition of the new assets will make a significant contribution to the company’s revenue and bottom line.

Shares of Integra Essentia have yielded multibagger return of 321 per cent to its investors since listing in May 2022. 

The company is involved in the business of life essentials to sustain modern life including agro products, textiles and garments, infrastructure and energy.

Click Here For Latest Updates On Stock Market | Zee Business Live