ITALY/S AFRICA: S AFRICA: Guala Closure Group completes MCG's Metal Closures buy
Guala Closures continues its acquisitive approach, this time in South Africa
Guala Closures has closed its purchase of the Metal Closures division of South Africa’s MCG Industries.
The transaction, announced back in July, has completed this week, the Italian firm said earlier today. The move has cost Guala EUR20m (US$25.9m).
South Africa's Competition Commission has approved the acquisition, which “represents a further step in Guala Closures’ strategy of consolidating its core business and strengthening the Group’s presence in the fast-growing sub-Saharan African market”, the company said.
Earlier this year, Guala bought the Australian wine screwcap manufacturer Anthony Smith Australasia for an undisclosed sum.
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