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September, 2006 Pragati Maidan, New Delhi, India |
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UB Close To Buying French Wine Maker
Co plans to expand to the Chinese martket as well
The world’s second largest liquor producer UB Group’s attempt to enter the global wine market by buying French sparking wine maker Bouvet-Ladubay has gone a step closer to reality, with the US equity group Starwood Capital confirming it would sell the firm to Indian liquor major.
Founded in 1851, Bouvet-Ladubay is one of the most respected wine-producing firms in France’s Loire Valley.
UB chairman Vijay Mallya has been scouring global markets for wine companies. Though UB is India’s top beer manufacturer and spirit maker, it has only a small presence in the wine segment, and with the acquisition of the French wine maker, it will get into quality wine to boost its presence in the Indian and Chinese markets.
UB already has a presence in countries like Taiwan and Hong Kong, and the group is increasingly relying on acquisitions to expand business as it eyes the lucrative Chinese market.
Date: 06-Jul-2006
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