San Miguel’s newest acquisition deal valued at A$11.5 million
DIVERSIFIED conglomerate San Miguel Corp. (SMC) disclosed on Friday that it paid 11.5 million Australian dollars (P451.5 million) to acquire Australian wine bottling and packaging facility Barossa Bottling Services Pty Ltd.
In a disclosure to the stock exchange, the Ramon S. Ang-led company said it acquired 200,100 shares of Barossa priced at 57.47 Australian dollars apiece. The deal was completed last June 30 with an initial payment of 10.35 million Australian dollars, while the balance of 1.15 million will be paid on July 31.
Barossa was acquired by SMC’s international packaging unit San Miguel Yamamura Packaging International Ltd. (SMYPIL) through its Australian subsidiary, San Miguel Yamamura Australasia Pty Ltd.
Barossa is a specialist independent contract wine bottling and packaging facility based in Nurioopta, Barossa Valley -- a wine-producing region northeast of Adelaide in South Australia. It is a niche provider of bottling and packaging services to various wineries in Australia, according to the company’s Web site.
The acquisition is SMC’s fifth venture in the Australian and New Zealand region’s bottling industry, following the purchase of shares in bottling and distribution firms in Australia, namely Portavin Holdings Pty. Ltd., Vinocor and Cospak, as well as Auckland-based Endeavour Glass Packaging Ltd.
SMC noted that the acquisition will bring the contribution of the bottling facilities in the region to 300 million Australian dollars to the San Miguel Group.
Shares in SMC lost 90 centavos or 0.87% on Friday to end the week at P102.50 apiece. -- Arra B. Francia