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Wine Group acquires giant Australian winery

The Wine Group announced a deal Thursday to expand its Australian operations by acquiring the giant Loxton winery from Australian Vintage Limited.

Financial terms were not disclosed.

Founded in 1948, Loxton is the fourth-largest winery in Australia. It will join with The Wine Group's Griffith winery to boost production of bulk wine and support its fast-growing Australian wine brands, including Fish Eye, Foxhorn and Little Roo.

"We are very excited to be adding the Loxton team and winery to our existing Griffith, Australia operations, and we intend to operate both wineries at full capacity," TWG chief executive David Kent said in a statement.

Based in San Francisco, The Wine Group is the world's third-largest wine producer by volume. The privately-held company, which was founded in 1981 by a management buyout of the wine assets of The Coca-Cola Bottling Company of New York, produces such well-known brands as Franzia, Cupcake, Concannon, Big House, Almaden, Corbett Canyon and flipflop.

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