Indian firm buys French winemaker

Wine has become increasingly popular among wealthy Indians

Indian whiskey group McDowell has taken over French winemaker Bouvet Ladubay, in a attempt to keep pace with India's changing taste for alcohol.

McDowell said it had paid $17.7m (£9.6m) for Bouvet Ladubay, which is based in France's famous Loire Valley winemaking region.

Wine has become increasing popular in India, where beer and liquor have long been the preferred choice of drink.

McDowell said it planned to introduce Bouvet Ladubay wines to India's market.

McDowell's whiskey and rum brands are among the best-known in India.

The company said it would import Bouvet Ladubay wines bottled in France, as well as wines in bulk for bottling in India.

Bouvet Ladubay is known for its premium sparkling wines, which are sold in France, Britain, Germany and the US.

Last year, the company sold more than 3 million bottles of wine, earning revenues of more than $14m.