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AUSTRALIA: Foster's eyes smaller wine acquisitions

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The Australian beer and wine group, Foster's, is on the acquisition trail but the managing director of its wine division, Walt Klenz, said that the company's balance sheet was not strong enough at present to undertake a major acquisition. Klenz identified the $4 billion Californian winery, Kendall-Jackson, as a "theoretical candidate" for such a major acquisition but said that a takeover of that magnitude would not be possible until the end of 2003


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