INDIA: Diageo silent on wine J-V report
Diageo has refused to be drawn on reports that it is poised to enter a deal with an Indian winery.
The Economic Times said today (20 June) that the company is in advanced talks to secure a joint venture with a Nashik-based winery, with the search narrowing down to either Mountain View and Renaissance Wineries.
Diageo has been looking to enter India's wine market of late, the paper claimed, and had opened negotiations with several players in the Nashik region including Renaissance.
When contacted by just-drinks today, however, a spokesperson for Diageo declined to comment. "Wine is a sector that interests us," the spokesperson said, "but we will not comment on press speculation."
Diageo is unlikely to pick up a stake in a winery, the paper suggested, and would roll out India specific labels through a bottling arrangement.
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