Corticeira Amorim Announces a 50 Percent Stake in Vinolok
Santa Maria de Lamas, 25 July, 2019. Today, Corticeira Amorim announced an agreement with Czech Republic-based Preciosa Group for the acquisition of a 50% stake in Vinolok, the manufacturer of technical glass and crystal stoppers for premium wine, spirits and mineral water. The Preciosa Group will retain the remaining 50% stake.
The deal, which grants Amorim access to Vinolok’s management, will complement Amorim’s product portfolio, leveraging its unsurpassed global distribution network to achieved further growth for the easy-to-open, convenient glass stoppers designed for the premium and ultra- premium segments of a wider market.
Commenting on the deal, the Chairman and CEO Antonio Amorim noted that “Cork and glass are two key components in the history of wine and spirits and this deal brings that historical partnership to an entirely new level. The prospects of everything that will now be possible doing in terms of innovative, convenient, yet sustainable, premium packaging are truly exciting.” Ales Urbanek, Vinolok’s CEO added that “The whole team at VINOLOK is very excited about working with AMORIM to continue to grow and develop the business, as well as with the possibility of continuing expanding our capacity. The identity of VINOLOK will be reinforced because we now have an industrial partner that will complement our knowledge and presence in the world’s Premium wine and spirits market.”
With annual sales of approximately 16 million Euros and a highly-skilled work force of about 170 people, Vinolok will continue to be headquartered in the Czech Republic’s so called “Crystal Valley”, where the world’s best Bohemian crystal has been made since 1550.
About Corticeira Amorim:
Tracing its roots back to the XIX Century, Amorim is today’s the world’s largest cork company with annual revenues in excess of 760 million euros, generated in more than 100 countries. With the industry’s most robust R&D+i budget, Amorim applies its specialist knowledge to this centuries-old traditional culture, developing a vast portfolio of 100% sustainable products that are used by blue-chip clients in industries as diverse and demanding as wines & spirits, aerospace, automotive, construction, sports, interior and fashion design. Completely natural, reusable and recyclable, cork is extracted from the cork oak tree (Quercus Suber L.) in nine-year cycles without ever damaging the trees that cover 2.2 million hectares in the Western Mediterranean Basin.
About The Preciosa Group:
The Preciosa Group is a leading international glass manufacturer. For decades Preciosa has brought, and continues to bring, new blood to the art of glassmaking through creative ideas, colour and their brilliant glass and crystal components. The Preciosa Group know-how allows for one-of-a-kind, awe-inspiring chandeliers and elegant jewellery. People in over 140 countries worldwide admire The Preciosa Group craft and the products it helps create.