Italy-based Gruppo Campari has signed an agreement to acquire the business assets of Australian contract beverage packer Copack Beverage for A$20m (or about €14.2m).
Copack Beverage specializes in can and glass packaging, which are used by Gruppo Campari at present for the ready-to-drink sourcing.
The acquisition of Copack was deemed by Gruppo Campari as the preferred option compared to the cost of a possible greenfield initiative.
According to Gruppo Campari, the acquisition will further bolster the company’s international supply chain capabilities and will add flexibility to the local organization.
Slated for completion in the third quarter of 2013, the acquisition will also provide the group with an opportunity to support the company’s future growth in the Asia-Pacific region.
Gruppo Campari will pay for land, buildings, production assets and working capital.
Copack has been the supplier for Campari’s Wild Turkey ready-to-drink’s in Australia since 2010.