Mumbai, Mar 21: A pioneering winery in India, Champagne Indage (CIL), has announced its plans to acquire Australian Vintage's Loxton winery in an all cash transaction for 60 million Australian dollars (Rs 225 crore). The deal is set to be completed over the next six months. The acquisition of the winery would increase the total production capacity from 32 million litres (3.5 million cases) to 122 million litres (13.5 million cases) per year, said a release here.
Loxton winery, situated in Riverland of South Australia is the fifth largest and the most modern winery in Australia. It has an annual crushing capacity of over 80,000 tonnes and an annual capacity of 90 million litres and is configured to handle smaller batches of more premium fruit, sourced predominantly from the Riverland vineyardsa and enabling a greater degree of flexibility with cropping level and therefore wine styles.
It will also allow the company to enter wider price points within Australia as well as major markets of Australian wine such as the UK, Europe, US and India.