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Abrau-Durso sells champagne house Chateau d'Avize in France

Pavel Titov said that the deal was completed in January 2022

MOSCOW, March. /TASS/. Russian wine company Abrau-Durso sold champagne house Chateau d'Avize in France, President of Abrau-Durso Pavel Titov told TASS.

"We have decided to sell our wine-making asset in France. In recent years, it has become clear to us that working in this region is becoming increasingly difficult, and we began to look for a new investor," he said.

Titov said that the deal was completed in January 2022. "We are not revealing the name of the new owner or the amount of the deal. We produced three wine brands in the region: Foliage, Chateau d'Avize and Titov & Fils. We are retaining the Titov & Fils brand and have reached an agreement with the new owners to continue to produce and import this brand of wine into Russia. However, supplies may be limited due to import restrictions on premium wines from EU countries," he added.

Abrau-Durso has been a leading producer of sparkling and still wines in Russia since 1870 and exports its products to over 19 different countries.

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