United Wineries International, the global wine distribution arm of Spain's Arco Wine Investment Group, is gearing up for a London initial public offering next June to grow its business, a company insider confirmed to just-drinks yesterday (13 September).

The flotation had been planned for early 2007 but UWI delayed it to have more time to prepare its business for a stock listing.

"We continue to reorganise our business and expand it to best prepare it for an IPO," the insider said.

Last October, just-drinks reported that UWI was eyeing two acquisitions. The firm has since bought two Spanish wineries - Bodegas Vega de la Reina and Bodegas Rioja Santiago to grow its franchise, the insider said.

The IPO plans will be put to investors in a special meeting in October, the source added.

UWI owns and distributes the Marques de la Concordia, Berberana and Marques de Grinol labels among other wine and spirit brands. The firm produces 55m bottles a year, 60% of which are sold in international markets.