INDIA/AUS: Champagne Indage buys Tandou
Indian wine group Champagne Indage has bought the winemaking arm of Australian company Tandou for an undisclosed sum.
The deal is Champagne Indage's second international acquisition. Last year, the company bought UK-based wine agent McKinley Vintners.
Tandou Wines is able to produce 3m cases of wine a year and Indage plans to use the winery to produce wines for export and to have better quality control over its domestic wines through benchmarking.
The acquisition will boost Champagne Indage's capacity, which due to the restrictions on farmland acquisitions in India, is difficult to achieve domestically.
Champagne Indage is expected to go in for further global acquisitions. Last July, the company's board approved a plan to raise up to INR1.2bn (US$27.2m) for acquisitions and expansion.
Champagne Indage, when contacted by just-drinks today (24 January), confirmed the acquisition but declined to comment further.
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