S AFRICA: Guala Closure Group set to buy MCG's Metal Closures
Guala Closures has continued its acquisitive bent of late, lining up its first purchase in Africa.
The Italy-based closures company, which announced the purchase of Australian wine screwcap manufacturer Anthony Smith Australasia earlier this year, confirmed earlier today (4 July) that it is in the process of lining up the acquisition of the Metal Closures division of South Africa’s MCG Industries. The move, the financial details of which were not disclosed, represents Guala's first step into Africa.
Metal Closures produces aluminium closures for wines, spirits and other beverages. The business, which was set up 53 years ago, operates out of Paarden Eiland in Cape Town.
“We have been looking to strengthen our presence in the fast-growing sub-Saharan African market … for a while,” said Marco Giovannini, Guala's chairman & CEO. “This acquisition is a further step in the strategy of consolidating our core business - not only does it give us access to other African countries, but it means we can add Stellenbosch to the Barossa and Napa Valleys in our list of Guala Closures locations.”
The purchase is subject to the approval of the South African Competition Commission, expected to be given in the last quarter of 2012, and gives Guala Closures its first base on the African continent.
Late last year, Guala upped its presence in Poland through the purchase of a 70% stake in aluminium drinks closures producer DGS.
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