Conglomerate San Miguel Corp. (SMC) has bought a South Australian wine bottler and packaging company to boost earnings and take advantage of more opportunities in the region.
In a disclosure with the Philippine Stock Exchange (PSE) Thursday, SMC said its subsidiary, San Miguel Yamamura Australasia Pty. Ltd, “acquired Barossa Bottling Services Pty. Ltd.”
SMC did not disclose the value of the deal.
“With the acquisition, the Company expects the Australian and New Zealand packaging business to contribute up to 300 million Australian dollars, as advised by Mr. Ramon S. Ang, President and Chief Operating Officer of the Company,” it said.
According to Barossa Bottling Services’ website, the company is independent bottling and packaging entity servicing artisan wineries in Barossa, Eden and Clare Valleys, Adelaide Hills and Riverland.
Ang, in a statement, said SMC was “bullish on the Australasian market and will continue to look for bigger and better opportunities in that region.”
“In the meantime, our Philippine operations will continue to expand to meet growing domestic and export demands,” he added.