By Leslie D. Venzon
MANILA, Feb. 6 (PNA) — Diversified conglomerate San Miguel Corp. (SMC) has fully acquired Australian packaging firm, Portavin Holdings Pty. Ltd. (Portavin), in a bid to expand its packaging business in the Philippines and abroad.
SMC told the local bourse the acquisition was made through its international packaging business, San Miguel Yamamura Packaging International Ltd. (SMYPIL).
Located in four key regions in Australia – New South Wales, South Australia, Victoria, and Western Australia, Portavin is involved in the bottling of wine, trading and distribution of packaging products.
Through San Miguel Yamamura Australasia Ltd., SMYPIL’s Australian subsidiary, also recently made business acquisitions including the assets of Endeavour Glass Packaging Ltd. (Endeavour Glass) in line with its packaging arm’s bullish stance on the Australian and New Zealand markets.
Located in Auckland, New Zealand, Endeavour Glass specialises in providing packaging solutions to the wine, beverage, and food industries.
Other recent business acquisitions in the area include the purchase of the assets of Vinocor in 2015, a market leader in the supply of corks and closures for wine bottles in Australasia; and Cospak, one of the largest packaging firms in the region, years prior.
“These acquisitions will enable our packaging business to further expand in Australia and New Zealand. Portavin and Endeavour Glass will complement our current packaging operations, Cospak and Vinocor. Other than the Australasian region, we will continue to look for opportunities of growth for our packaging business in the Philippines and abroad,” said SMC President and Chief Operating Officer Ramon S. Ang.