Tariko Buys Italian Vineyard

Billionaire Roustam Tariko's Russian Standard vodka brand said it bought 70 percent of sparkling-wine and vermouth producer Flli Gancia in an effort to expand the Italian company.

Tariko will lead Gancia as its president, while members of the Vallarino Gancia family "will continue to play an important role in the company," St. Petersburg-based Russian Standard said Thursday.

Russian Standard's will make it possible to develop Canelli Asti-based Gancia into Russia's and the world's leading brand, Tariko said.

(Bloomberg)

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