Guala Closures establishes presence in Africa
Metal Closures is the leading manufacturer of aluminium closures in South Africa for wines, spirits and other beverages. The business, which is 53 years old, operates out of a plant in Paarden Eiland, Cape Town and manufactures a broad range of aluminium closures to a blue chip customer base across the country.
Guala Closures, which is based in Italy, was founded in 1954 and operates in four continents through 24 production plants and a sales network covering more than 100 countries.
The transaction is subject to the approval of the South African Competition Commission, which is expected in the last quarter of 2012.
This will give Guala Closures 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,” says Marco Giovannini, chairman and CEO of Guala Closures Group. “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.”