French wine company Bouvet Ladubay has returned to family control following Diageo's decision to withdraw from the category.

Having been acquired by India's UB Group in mid-2006, sparkling wine producer Bouvet Ladubay was rolled into UB's United Spirits division. Diageo bought into United Spirits in 2012, before securing majority control in July last year. Since then, Diageo has taken the decision to exit the wine category. The group offloaded a raft of brands to Treasury Wine Estates last month and has confirmed its intention to divest what it still owns, with the exception of local interests in its units in Turkey and in India.

Earlier today, the Loire-based Bouvet Ladubay confirmed that the Monmousseau family has regained control through a partnership with three private-equity firms. The Monmousseaus, who have managed the company since 1932, teamed with Ouest Croissance, CM CIC Investments and Unigrains to buy back Bouvet Ladubay.

Financial details of the transaction, which completed last week, were not disclosed.

"We are very happy with our new partners, and look forward to once again being fully responsible for the future successes of Bouvet Ladubay," said company president Patrice Monmousseau. "Our main aim at this stage is to ensure stability for our employees and the continued development of our business."

Patrice's daughter Juliette Monmousseau, who joined Bouvet Ladubay eight years ago, will become CEO of the company.

Founded in 1851 by Etienne Bouvet and his wife Célestine Ladubay, the company produces around 6m bottles per year.