San Miguel Yamamura Australasia unit purchased the Australian bottling company.
San Miguel acquires Australian bottling company
San Miguel Yamamura Australasia unit purchased Barossa Bottling Services.
Factoring in the latest acquisition of Barossa Bottling Services, San Miguel expects its packaging business in Australia and New Zealand to contribute A$300 million in sales. San Miguel logged sales of 685.31 billion pesos ($13.56 billion) in 2016, up 1.94% on the year, while its consolidated net income surged 80.2% to 52.24 billion pesos.
“We remain bullish on the Australasian market and will continue to look for bigger and better opportunities in that region,” San Miguel President and Chief Operating Officer Ramon Ang said. “In the meantime, our Philippine operations will continue to expand to meet growing domestic and export demands.”
San Miguel Yamamura earlier this year acquired assets of Endeavour Glass Packaging in New Zealand and a 100-percent stake in Portavin Australia. It also acquired the cork and wine closures business of Vinocor and packaging company Cospak.
Factoring in the latest acquisition, San Miguel expects its packaging business in Australia and New Zealand to contribute A$300 million in sales. San Miguel logged sales of 685.31 billion pesos ($13.56 billion) in 2016, up 1.94% on the year, while its consolidated net income surged 80.2% to 52.24 billion pesos.