CHINA: China Foods eyeing US, Australian wineries - report

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Food and beverages conglomerate China Foods is aiming to buy “two or three” wineries in Australia and the US, according to local reports.

The acquisitions, due to be completed in the next two years, will total around US$20m, China Foods' MD Luan Xiuju said at a news conference in Beijing yesterday (1 April), China Daily reported.  "I've visited the wineries. Now everything depends on the progress of our talks with them," she reportedly said.

The move is aimed at competing with the growth of foreign wine imports into China.

The group is also understood to be in talks with “two global leading wine dealers” to become their exclusive distributor in China.

The company, which employs around 21,000 people, already owns two overseas wineries: Chateau Viaud in Bordeaux and Chile's Bisquert winery.

China Foods is also one of the top ten global bottlers for the Coca-Cola Company, according to its website.

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