San Miguel In Cospak Purchase

San Miguel Yamamura Packaging International (SMYPI), a subsidiary of diversified Philippine conglomerate San Miguel Corporation (SMC), has acquired a majority stake in privately-held Australasian packaging firm Cospak Group in a deal worth an estimated AUD35mn (US$32mn). Control of the firm, which specialises in packaging materials for small and medium-sized enterprises in the wine, soft drinks, food and pharmaceutical industries, will produce additional cost-beneficial synergies for SMC's other food and beverage subsidiaries. However, the main benefit of the deal is viewed as the opportunity for the company to strengthen its packaging arm ahead of its impending spin-off and potential future

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