Continuing with his acquisition juggernaut on foreign shores, liquor baron Vijay Mallya of United Breweries Group has now set his sights on New Zealand-based Independent Liquor.The world's third-largest distiller, UB Group is evaluating a possible takeover bid for Independent Liquor which is a leading alcoholic beverage maker in the Australia-New Zealand region and is estimated to be valued between $650-725 million."Currently, we are in the process of evaluating the firm. Independent Liquor has plans to sell the company. We may make a bid once the valuation process is completed," a top UB group official said.Independent Liquor has appointed investment banking firm UBS New Zealand to evaluate the company and potential bids for it."Following the assessment, the shareholders are now commencing a process for the potential sale of Independent Liquor," UBS said in an e-mail reply.The process is expected to take upto four months, it added. A possible bid for Independent Liquor is believed to be part of Indian liquor major UB group's plans to strengthen its presence in the Asia-Pacific.Interested parties are currently being invited to make submissions on their potential involvement in the sale of Independent Liquor and based upon a review of those submissions, a number of groups would be invited to participate in the sale process, UBS said.Independent Liquor's brands include Woodstock, Vodka Cruiser, Cody's, KGB and Pulse. It also distributes a range of premium beer brands across Australia and New Zealand including Carlsberg, Tuborg and Grolsch.