OREANDA-NEWS  The largest Russian producer of sparkling wines — the Abrau-Durso group of companies — refused to own the French champagne house Chateau d'Avize. Pavel Titov, the president of the group, told RBC that the wine-making asset was sold.

The deal to sell the champagne producer took place a year ago — in January 2022, Titov noted. Earlier, three participants of the Russian wine industry told RBC that Chateau d'Avize was put up for sale, and one of the interlocutors was aware that the asset had been sold.

In recent years, it has become increasingly difficult for Abrau-Durso to work in France, and the company decided to look for a new investor for Chateau d'Avize, explained the reasons for the sale of Titov, without specifying other details. According to him, the asset was sold to a local winemaker, the president of Abrau-Durso did not disclose his name and the amount received during the transaction.

The Champagne Wine Committee (an interprofessional organization that unites about 15 thousand winegrowers in the region) did not respond to RBC's request at the time of publication.