Philippines-based food, beverage and packaging company San Miguel Corporation (SMC) has acquired Australia’s Vinocor for an undisclosed amount.
Vinocor specialises in supplying wine bottle closures and customised bottles in Australia. Its product portfolio includes cork, screw caps, customized glass bottles and champagne hoods and capsules.
SMC said that the acquisition was made by its packaging business' new Australian subsidiary, SMYV.
This is SMC's second acquisition of an Australian packaging company, after its 2009 acquisition of Sydney based Cospak group, which is said to be the largest packaging trading firm in Australasia.
SMC president Ramon Ang said: "The acquisition will enable our packaging business to tap the expanding premium wine markets in Australia and New Zealand. Vinocor will complement our current packaging operations, the Cospak Group, in both countries."
The Manila Bulletin reported that the company had been looking for opportunities to enter new frontiers and expanding the product lines of its core businesses.
With operations in China, Malaysia and Vietnam through San Miguel Yamamura Packaging International Limited (SMYPIL), SMC's packaging business San Miguel Yamamura Packaging Corporation (SMYPC), is considered to be the biggest packaging company in the Philippines.
The unit provides packaging solutions and an array of products including glass, plastics, metal, flexibles, PET, molds and paper and reliable services and technical expertise.
Apart from the current investment, San Miguel Brewery has also recently obtained the approval of its creditors to foray into the business of producing non-alcoholic beverages, reported The Manila Bulletin.
