Sula announces acquisition of ND Wines

Sula Vineyards announced the acquisition of ND Wines, a winery in Nasik district, and the deal will close by the end of April 2024, the company’s exchange filing reads.

Additionally, the company reported its highest-ever revenue in the March quarter and the financial year 2023-24, growing at 10 percent year-on-year (YoY) in both, the company said in the exchange filing.

Sula’s premium brands also performed well, recording a 15 percent YoY growth during the last quarter in FY 2023-24. The wine tourism segment of Sula registered a growth of 31 percent YoY in the fourth quarter of 2023-24 as compared to the corresponding period in FY 2022-23.