Reliance Capital, VisVires India Wineries acquire stake in Sula wine's maker Nashik Vintners

BANGALORE: Belgian family office Verlinvest, Reliance Capital and VisVires India Wineries have jointly acquired Rs 275-crore stake in Nashik Vintners, parent of Sula wines.

The deal values India's top winemaker at Rs 700 crore, and provides a handsome exit to its early financial investors led by Everstone Capital. The transaction also includes Rs 60-crore capital infusion into the company by the three acquiring shareholders. Reliance Capital and VisVires India Wineries — the latter owned by a Singapore-based investor Ravi Viswanathan — will now hold 29% stake in the company.