Indage Vintners has entered into a MOU with Cavit S.C., a Euro 180 million wine company based in Trentino, Italy to form business alliance through a joint venture company. The joint venture will essentially leverage the production & distribution infrastructure of both Indage Vintners and Cavit to maximize potential sales and reduce cost of market entry in various defined markets. The joint venture also has aggressive plans to engage in wine production in India which will assist the expansion of new Italian varietals in India for introduction by Indage Vintners in India.
The company made this announcement during the trading hours today, 11 May 2009.
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