Guala Closures Group has announced its intent to acquire the Metal Closures division of South Africa's MCG Industries, pending the approval of the South African Competition Commission by the end of 2012.
Metal Closures has been manufacturing aluminum closures in South Africa for wines, spirits and other beverages for around 53 years, and the current acquisition enables it to set foot in the African market, reported packagingeurope.com.
Closures Group chairman and CEO Marco Giovannini said they had been eyeing the sub-Saharan African market, the only geography that was not in their portfolio.
"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." added Giovannini.
Guala Closures has 24 manufacturing plants employing about 3,800 workers around the globe with its products selling across 100 countries.
