Indian firm buys second Australian winery to meet demand for wineMarch 24th, 2008 - 1:48 pm ICT by admin
Melbourne, Mar.24 (ANI): The Indian wine sector is looking to Australia and other places around the world to help it meet increasing demand for quality wine in India.
Indage Holdings Ltd, a subsidiary of India’s biggest wine producer, Champagne Indage Ltd, last week agreed to acquire the 90,000-tonne-capacity Loxton winery of Australian Vintage Ltd (formerly McGuigan Simeon Wines) in South Australia for 60 million dollars.
Indage Holdings chairman Sham Chougule said the acquisition of Loxton would expand Indage’s winemaking facilities with quality fruit and facilities.
The acquisition of Loxton is the second winery acquisition in Australia for Indage, which last year acquired the Monash winery of Tandou Ltd - renamed Thachi Wines - in South Australia for 10 million dollars, The Australian reports.
Indage aims to have production in 10 countries over the next five years, with the intent of broadening the range of Indage wines in overseas markets and in India.
As well as supplying the Indian domestic market, the company exports wine to the United States, Japan, the United Kingdom, Switzerland, Germany and elsewhere in Europe.
Champagne Indage has several wineries located at Narayangaon in Maharashtra, with an aggregate capacity of 3.5 million litres of wine per annum. (ANI)
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