Philippine group 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 to the Philippine Stock Exchange (PSE), SMC said its subsidiary, San Miguel Yamamura Australasia, had acquired Barossa Bottling Services.
“With the acquisition, the company expects the Australian and New Zealand packaging business to contribute up to AUS$300 million, 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 an independent bottling and packaging entity servicing artisan wineries in Barossa, Eden and Clare Valleys, Adelaide Hills and Riverland in South Australia
Mr Ang 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.