Russia's SVL Group has acquired ex-Moet Hennessy Louis Vuitton Champagne house Chateau d'Avize, according to a report.

SVL, which already produces sparkling wine in Russia and is owned by oil magnate Boris Titov, has also bought the rights to the Louis XIV brand and rented two hectares of Grand Cru vineyards for 25 years in order to grow grapes, a report by Bloomberg said yesterday (3 June).

It is thought SVL bought Chateau d'Avize from a local winemaker. Financial details were not disclosed.

just-drinks was not immediately able to confirm details.