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San Miguel buys Australian bottling firm

  • Written by AFP
  • Published in Business
  • Read: 787

Top Philippine conglomerate San Miguel, best known for its beer brewing business, said on Thursday it had acquired an Australian wine bottling firm as part of its regional expansion.

Packaging unit San Miguel Yamamura Packaging International bought Australia's Barossa Bottling Services for an undisclosed amount, a San Miguel statement said.

"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.

Originally a Southeast Asian beer and food giant, San Miguel has diversified into a wide variety of fields including infrastructure, banking, energy and oil.

Barossa is a bottling and packaging company serving artisan wineries in South Australia.
    
With Barossa, San Miguel said without elaborating that its Australian and New Zealand businesses were expected to make a "contribution" of nearly 300 million Australian dollars ($231 million) in annual revenues to the diversified group.
    
San Miguel's packaging arm acquired New Zealand's Endeavour Glass Packaging and Australian bottler Portavin this year.
    
In a separate statement to the Philippine Stock Exchange on Thursday, San Miguel said it was considering investing in the production of micro-chips, smartphones, home appliances and electric cars.