Started the Acquisition of the Metal Closures Division of MCG Industries, the Leading Manufacturer of Aluminium Closures in South Africa
Guala Closures Grouphas begun the process for the acquisition of theMetal Closuresdivision of South Africa’sMCG Industries. The transaction 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 itsfirst base on the African continent.
“We have been looking to strengthen our presence in the fast-growing sub-Saharan African market, the only one that was missing from our portfolio, for a while,” declares Marco Giovannini, Chairman and CEO ofGuala Closures Group - the world’s leading producer of safety closures for spirits and aluminium screwcaps for wine. “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.”
Metal Closuresis the leading manufacturer of aluminium closures in South Africa for wines, spirits and other beverages. The business, which is 53 years old, operates out of a sophisticated plant in Paarden Eiland, Cape Town and manufactures a broad range of aluminium closures to a blue chip customer base across the country.