Essentia Integra has informed the exchanges that the board has acquired assets of Chateau Indez Winery worth Rs 400 million. The acquisition is part of its pre-determined long-term business development strategy.
The latest acquisition will strengthen its presence across the entire supply chain spectrum of consumables, the company said.
The property purchased is located in Narayangaon town of Pune district in Maharashtra. The location has an optimum climate for viticulture and is known for world class high quality grapes.
“The company is making every effort to strategically align all components of the supply chain. The latest purchase of winery assets is one such step,” Vishesh Gupta, managing director of Integra Essentia, said in a statement.
He added that the management expects the new assets to contribute significantly to the company’s revenue and bottom line.
Since listing in May 2022, Integra Essentia shares have given a whopping 321 per cent return in the last one year. The company is involved in the business of life essentials to sustain modern life including agricultural products, textiles and clothing, infrastructure and energy.