SPI Group has announced itself open to acquiring businesses that would boost its global wine portfolio.

The Luxembourg-headquartered company, which owns the Stolichnaya vodka brand, said earlier today (26 September) that it is looking to “further diversify its spirit portfolio through the acquisition of exclusive and premium wineries located throughout the world”. SPI's owner, Russian businessman Yuri Shefler, is handling the hunt for suitable targets.

“We are carefully evaluating multiple opportunities which will allow SPI to enrich its portfolio of jewel wines and develop this part of our company,” said company CEO Val Mendeleev.

Financial details behind the privately-held company's intentions were not disclosed, although SPI said it is evaluating opportunities in California, Spain, Portugal and Chile.

In 2006, SPI Group acquired a stake in the Tenuta dell'Ornellaia, Castelgiocondo and Luce della Vite estates, all part of the Marchesi de'Frescobaldi family holdings. This was followed in 2011 by the purchase of a “significant” stake in Argentine winery Achaval-Ferrer.