Foster's the Australian beer and wine group, which owns Beringer Blass, has confirmed that it is on the look out for small acquisitions, according to an article in Barron's.

Talking to the magazine Ted Kunkel, Foster's chief executive said the company was hunting "small acquisitions of strong brands" of wine, possibly European companies selling around 150,000 cases a year in areas where Foster's was underrepresented.

According to Kunkel, Foster's preferred deal would be to buy half a business "at a reasonable multiple" and then acquire the rest of the business over a five year period.