Amorim Cork buys 50% of Vinolock for 11M€
Amorim Cork reached an agreement with Vinolock, based on the Czech Republic, to acquire 50% of it for 10,988M€.
Amorim Cork reached an agreement with Vinolock, based on the Czech Republic, to acquire 50% of it for 10,988M€. Vinolock’s core business is producing and commercialising glass seals for wine and spirits drinks’ bottle, now belonging entirely to Preciosa Group that will keep the other 50% of it, establishing then a joint management model.
Preciosa group is the world’s leading supplier of high-quality Czech crystal’s components, producing semi-finished products for the jewellery and fashion industries. With a team of 170 highly-skilled artisans, Preciosa registered a turnover of 16M€ and an EBITDA of 5.3M€.
Amorim Cork expects that combining cork and glass leads to additional gains in premium packages and ultra-premium wine and spirits drinks bottles.