StockMarketWire.com - BGEO Group said its investment arm Georgia Capital had acquired a 60% stake in Kindzmarauli, a Georgian wine producer, for $7.25m.

The acquisition would complement and strengthen BGEO Group's beverage business, increasing its presence in the domestic and international markets for Georgian wine.

Kindzmarauli, a producer of Georgian wines and spirits, owned 350 hectares of vineyards in Georgia's Kakheti region.

'I am delighted to announce that our beverage business has made a major step towards its wine business development strategy to reach a vineyard base of 1,000 hectares over the next three years,' said Irakli Gilauri, BGEO CEO.

'With this acquisition, we have now reached 436 hectares of vineyards to support our wine production, which has been supported bysignificant growth opportunities on international markets provided by Georgia's various free trade agreements, including those with China and the European Union.'


At 8:28am: [LON:BGEO] BGEO Group share price was +26p at 3476p



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