The Australian listed wine producer McGuigan Simeon says its is developing into one of the world's biggest grape growers following the purchase of a 2300 acre property, Two Rivers, near Swan Hill in Victoria.

It will contribute an extra 1.6m cases to McGuigan Simeon production.

Managing director Brian McGuigan said the property would be fully planted by October and another project of similar scale would be started next year.

"Contrary to popular belief, Australia does not have enough vineyards." McGuigan said. The company currently owns and leases 13,000 acres of vineyards.