UB Group's Four Seasons Wines announced today that it would offer equity participation to its local partners and farmers for its new project at the Four Seasons Winery in Baramati. The company will enter into long-term contracts with local farmers for around 2,000 acres of vineyards over the next three to five years for its crushing requirements.
Abhay Kewadkar, chief winemaker and director (Four Seasons Wines), said, “We are the first company to offer shares to our contract farmers and making them not only the suppliers but also the stakeholders of the company. Majority shareholding will remain with United Spirits and a significant portion of the equity will be offered to local farmers.”
Besides offering equity partnership, the company will also share its technical expertise with them and fulfill other infrastructural needs such as irrigation facilities. The company expects to generate direct and indirect employment for around 1,500 persons.
