- October 4, 2018 / 2 min readThis funding is part of a total commitment of Rs 130 crore from Viswanathan, Quintela and the AVT Group.
India's second-largest wine producer Grover Zampa Vineyards Ltd has raised Rs 60 crore in fresh funding led by Singapore-based wine investor Ravi Viswanathan.
This funding is part of a total commitment of Rs 130 crore from Viswanathan, Quintela and the AVT Group.
The funds raised will be used to redesign its wine tourism properties in Bengaluru and Nashik and launch new wines. The firm is further planning to partner with other wineries to strengthen its portfolio.
Founded by Kanwal Grover in 1988, the firm was known as Grover Vineyards before merging with Vallée de Vin in 2012 to form Grover Zampa. Currently, the winemaker has a vineyard each in Nandi Hills, Karnataka, and Nashik, Maharashtra. It claims to be selling more than 2 lakh cases a year.
Vivek Chandramohan, CEO of Grover Zampa, said, "We plan to reach half a million cases in the next five years by reinforcing experiential marketing, increasing exports, and ensuring deeper penetration in existing markets. The company will also become more marketing-driven instead of sales-driven to connect with existing consumers as well as target millennials."
Viswanathan's Visvires Capital and Anil Ambani's Reliance Capital together hold around 32% stake in Grover Zampa, while the Grover family owns 24% stake.
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