Indian drinks giant Indage acquires Norfolk winery

Indage UK, part of India's largest wine producer the Indage Group, has made an offer to buy a Norfolk based winery as it seeks to expand its UK presence.

The group has made a formal offer on Broadland Wineries Limited. The deal has been accepted in principle by Broadland's shareholders and negotiations are now at an "advanced stage".

Earlier this year, Indage Group's Champagne division purchased UK-based wine supplier, Darlington Wines in order to help strengthening its overseas presence. At the time, Indage Champagne it said it planned to acquire wine businesses in the UK, South Africa and South Australia, to give it control over about a 200 million litre capacity worldwide.

Indage says it intends to run the Broadland business as a "discrete site" as part of the Indage family.

Broadland, which produces wine and bottles, was rescued last year by a turnaround specialist, after going into administration in March 2006. In February 2007, Mark Lansley was appointed CEO, bringing the company back to profitability and a turnover of £17 million.

McTear Williams & Wood, the insolvency and business rescue practice overseeing the sale, has confirmed that the deal should complete by mid-December.

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