Russian firm moves into Champagne
Champagne house chateau d'Avize, formerly owned by Moet Hennessy Louis Vutton, has been acquired by Russian oil tycoon Boris Titov.
Mr Titov's SVL group, which has also bought the rights to market Champagne under the Louis XIV brand, plans to begin selling produce from the chateau in Europe and Russia before the end of 2011.
Its aim is to reach annual production of 1.5 million bottles of chateau d'Avize over the next five years, as part of its strategy to make premium alcohol an important part of its business.
"Champagne seemed to be an obvious candidate for the group's presence," a spokesperson for the group told decanter.com.
"This project presents a great challenge to our winemaking and marketing skills. If we achieve this in Champagne, any other project will seem easy."
In other Champagne news, Veuve Cliquot recently celebrated the 200th anniversary of its first vintage by releasing some bottles from its private cellars, the Daily Telegraph reports.