AUSTRALIA: Lion Nathan looks abroad for wine acquisition

Australian beer and wine group, Lion Nathan, has said it is looking to the US, South America or South Africa for its next major wine acquisition. Lion Nathan managing director, Gordon Cairns, said a big-volume purchase in Australia would run the risk of diminishing the premium status of its fledgling wine division, comprising Petaluma and Banksia. Rather, Cairns was quoted by the Sydney Morning Herald as saying, the company would be looking to transplant its unique strategy and establish a niche premium wine operation in another New World wine market.