Champagne Indage to buy UK firm

Champagne Indage has signed a memorandum of understanding (MoU) with UK-based Harvey Miller Wine Agencies (HMWA) for the acquisition of wine distribution business - McKinley Vintners (MV).

According to a release issued by Champagne Indage to the BSE today, HMWA will import, sell and promote suitable brands of the company in the UK on a preferential basis.

"HMWA and MV will merge into a single business in three years with valuations carried out by independent auditors. The company shall be a holding company , and will control at least 51% of the said merged entity," the release added.