Ginebra San Miguel shells out P200-M to buy a bottling firm

Preparatory to boosting production capacity, Ginebra San Miguel Inc. bought for P200 million for all the outstanding shares of Pasig City-based bottler, East Pacific Star Bottlers Phils. Inc.   “The acquisition will forge synergies with the Company’s ongoing operations and provide additional capacity for the contemplated expansion plans,” GSMI said in a disclosure to the Philippine Stock Exchange on Friday.   East Pacific Star manufactures and bottles alcoholic and non-alcoholic beverages.  It got Ginebra to cough up P100 for each of its 2 million shares.   Sales of the world’s largest gin producer were down 31 percent in the first three quarters of 2011 to P11.5 billion on “soft demand for liquor products” Ginebra said on its website.   Among Ginebra’s core products are Ginebra San Miguel Gin, GSM Blue Gin and Gran Matador Brandy.  It has a joint venture agreement with Thai Life Group of Companies for production and sale of distilled spirits in Thailand.   Under the Magnolia brand, Ginebra makes and sells non-carbonated ready-to-drink tea and fruit juices. — ELR, GMA News