INDIA: UB now looking for S Africa winery? - report
A unit of India's UB group is poised to buy a South African wine company, according to local reports.
Indian paper Business Standard said today that United Spirits is in advanced talks with a wine company, but was unable to name which one. The move follows UB's purchase of French wine producer Bouvet-Ladubay from Taittinger for what was thought to be US$20m last month.
"We are rolling out an aggressive strategy to grow our wine business," the paper cited Vijay Rekhi, the president of United Spirits, as saying. "After the recent acquisition in France, we are in negotiations with a wine firm in South Africa and are debating on the valuation. We will have clarity on the deal in the near future."
The Indian drinks group already has two wine brands available domestically - Golconda and Bosca - which sell for around INR200 (US$4.29) per 750ml bottle. The paper said that the group is considering introducing three premium wine brands from Bouvet Ladubay into India, which would cost over INR1,000.
United Spirits is the name of the group's newly-merged spirits operations. The six units that make up United Spirits include McDowell & Co., Herbertsons and Shaw Wallace Distilleries, the latter of which UB acquired a majority stake in last year.
Having consolidated its spirits operations into one company, UB Group is looking to build on its position of strength in the Indian market and establish itself internationally. Euromonitor Internation...
A top Whyte & Mackay executive has insisted it is "business as usual" at the UB Group takeover target after the UK distiller announced a distribution deal for the US....
India's UB Group has embarked on the due diligence of long-time quarry Whyte & Mackay, just-drinks understands....
US importer Gemini Spirits & Wine has announced a distribution deal for the whisky portfolio of UK distiller Whyte & Mackay....
Italy-based wine group Bosca has parted company with India's UB Group, its distributor in the Indian market....
Vivian Imerman, chairman and chief executive at UK distiller Whyte & Mackay, has quashed reports that he has agreed a deal to sell the company to India's UB Group. Imerman issued a robust statement af...
Scotch whisky group Ian Macleod Distillers has rubbished reports that it is in talks to sell the company to India's UB Group....
Two top directors have reportedly quit UK distiller Whyte & Mackay....
- Why Chinese beverages won't conquer the world
- Can Coca-Cola fuel SABMiller's soft drinks story?
- Is “Craft” the Next Big Thing for Soft Drinks?
- Petropolis Finally Moving into SABMiller's View?
- Gin: Plymouth's from Plymouth, London's from...?
- Diageo confirms Australia abv drops
- Pernod launches online Ballantine's "experiment"
- Global vodka sales slip in 2013 - research
- SABMiller returns to Brazil with Petropolis tie-up
- Smirnoff tops UK shopping list - figures
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- The IWSR Forecast Report - 2014-2019 Global Review
- Global Tequila Market 2014-2018