Indian wine company Champagne Indage is buying the wine business and winery of Tandou Wines of South Australia for an undisclosed amount. The winery has a capacity of 3 mn cases (27 mn litres) annually. Champagne Indage produces 8 mn litre wines annually. Both the companies have signed an agreement which will be finalized in seven days.
The Australian wine maker will be renamed after the acquisition, likely to be Indage Australia Limited. Champagne Indage plans to diversify into foods and confectionery business and has set up a subsidiary, Seabuckthorn Indage Limited (SIL), to meet this end. Champagne Indage will hold 52.63% equity in this company which currently markets the Leh Berry brand fruit nectar, and has plans to get into jams and fruit juices. The company is also talking to a couple of players for third party manufacturing of its biscuits and jams.
Read the Business Standard and The Times of India articles for more details.
Dealcurry: Capital Markets, Investment Banking, Private Equity 