Luxembourg, October 18th 2017 – GCL Holdings S.C.A., located in Luxembourg, HQ of Guala Closures Group, global leader in the production of Closures for spirit and wine, announces the acquisition of the screw caps activity of ICSA (Industria Corchera S.A.), the Chilean company specialised in promoting and selling packaging products for the wine Industry in South-America.
The acquired activity of ICSA, based in Santiago de Chile, recorded a turnover of approximately 4 million USD in 2016; this deal increases Guala Closures Group local production capacity to face the growing demands of South American wines.
"With this acquisition," says Marco Giovannini, Chairman of GCL Holdings S.C.A. and CEO of Guala Closures Group, "which follows the recent purchase of the wooden over cap production lines of Limat in Mexico, we reinforce the capacity to support our Spirit and Wine partners in Latin America. Furthermore, next week, with Mr. Schneider, Vice Prime Minister of Luxembourg, and Mr. Gramegna, Minister of Finance, we will celebrate the grand opening of GCL Technologies, the new Research Center operating in Luxembourg: GCL Technologies is devoted to the development of breakthrough technologies to allow Guala Closures to always remain ahead in innovation. I’m very glad about those achievements which strongly confirm our strategy: protect the Spirit and Wine brands against Counterfeiting and support their Premiumization effort”.
In addition, as planned in July, Guala Closures finalized last week in Mumbai the purchase of 100% of shares of Axiom Propack Pvt Ltd, the Indian company active in the production of safety closures for spirits.