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Friday, March 29, 2024

San Miguel buys Aussie cork firm

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Conglomerate San Miguel Corp. said unit San Miguel Yamamura Packaging International Ltd. has completed the acquisition of Australia’s leading wine cork and cap maker.

This is the second acquisition of an Australian packaging company by San Miguel’s international packaging unit.

San Miguel said in a statement the purchase of Vinocor Worldwide Direct Pty. Ltd. was made through San Miguel Yamamura’s new Australian subsidiary, SMYV Pty Ltd.

“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,” said San Miguel president and chief operating officer Ramon Ang.

San Miguel did not provide the acquisition cost and other details.

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Vinocor is a leading supplier of wine bottle closures and customized bottles in Australia. With facilities and operations based in Adelaide, South Australia, its product portfolio includes cork, screw caps, customized glass bottles and champagne hoods and capsules.

In 2009, San Miguel Yamamura Packaging Corp. through SMPIL signed a sale share and subscription agreement to purchase a majority stake in the Cospak Group.

Based in Sydney, Australia, the Cospak Group is the largest packaging trading firm in Australasia. The group operates largely in Australia and New Zealand, but company has trading outposts in South Africa and Italy.

SMYP, the biggest packaging company in the Philippines, operates facilities in China, Malaysia and Vietnam through SMYPIL

It provides total packaging solutions across the globe, a wide range of quality products that include glass, plastics, metal, flexibles, PET, molds and paper, and reliable services and technical expertise.

The company provides a strategically accessible and world-class supply base, creating a sustainable competitive advantage.

SMYPC and SMYPIL are joint ventures of San Miguel and Nihon Yamamura Glass Co. Ltd. of Japan.

SMYP has been expanding its business in several parts the world. In 2012, SMYP  entered into a partnership with Poland-based Can-Pack S.A. to form an aluminum can manufacturing business gear toward the Philippine and Asia Pacific market.

 

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