|
 |
| 1-4
September, 2006 Pragati Maidan, New Delhi, India |
 |
|
|
UB Group to acquire British spirit distillery
In a move aimed at making UB Group the second largest liquor company in the world by 2010, its chairman Vijay Mallya is now close to acquiring a British distillery firm.
`Yes, we have plans to acquire a spirit distillery in the UK. It will be a big ticket acquisition and it will happen by the end of this year. The move is to tap the British market,` he said during a press conference
`In UK, we have a good market share in beer business. Now we want to increase our market share in the spirit business in UK and I believe this acquisition will create a good pitch for that,` Mallya said..
According to market sources, UB Group may spend up to USD two billion in 2006 to acquire spirit companies.
The company's spirit business grew by over 30 per cent as on December 31, 2005. Last year, the company had acquired Shaw Wallace & Co for USD 354 million.
UB Group would merge its spirit businesses under a single brand, which will result in value unlocking and exploiting the potential of the group. `It will happen soon,` Mallya said.
The group is expected to end the fiscal 2006 with a combined sales of Rs 30m, as compared to Rs 17.2m in the previous year.
Date: 19-Mar-2006
Back
|
|
 |
|
|
|
 |
