Dubai / WAM
Gulf Capital announced that one of its portfolio companies, Middle East Glass (MEG) has acquired 100% of Misr Glass Manufacturing (MGM), which is specialised in the manufacturing and marketing of container glass for the food and beverage industry.
This acquisition creates the largest glass packaging manufacturer not only in Egypt but also in the MENA region and establishes a solid ground for further growth, including cross-border regional and international expansion. The company is a worldwide approved supplier of glass bottles for Coca-Cola, an approved supplier for Pepsi, Nestle and other major beverage producers locally and regionally, Gulf Capital said in press release.
MEG’s most recent acquisition of MGM will create the largest glass packaging manufacturers in Egypt. Prior to this deal, MGM was the second largest container glass manufacturer with three furnaces having a total production capacity of 141,000 tonnes per annum, producing glass containers in flint, amber and green colours and catering for both local and export markets. The Group will have six furnaces with a combined total production capacity of 378,000 tonnes per annum serving major local and international food and beverage firms.