The transaction is subject to the approval of the South African Competition Commission, expected to be given in the last quarter of 2012. It will give Guala its first base on the African continent.
“We have been looking to strengthen our presence in the fast-growing sub-Saharan African market, the only one that was missing from our portfolio, for a while,” said Marco Giovannini, Guala’s chairman and CEO.
“This acquisition is a further step in the strategy of consolidating our core business - not only does it give us access to other African countries, but it means we can add Stellenbosch to the Barossa and Napa valleys in our list of Guala Closures locations.”
The Italian multinational claims to be the world’s leading producer of safety closures for spirits and aluminium screwcaps for wine. Guala claims to be a world leader in the manufacture of anti-refillable closures for liquid food, turning over more than €410 million. It has 24 manufacturing plants worldwide and says it is the number one in its sector with sales in more than 100 countries. Metal Closures is described as the leading manufacturer of aluminium closures in South Africa for wines, spirits and other beverages. The 53-year-old business operates out of a plant in Paarden Eiland, Cape Town and makes a range of aluminium closures.