Amorim buys 50% of Saci for €49 million

 In Mergers and Acquisitions, News, Wine

The Portuguese cork giant Corticeira Amorim has acquired 50% of the Italian Turin-based company Saci for €49 million.

Saci’s main production product are wirehoods which are used on bottles of champagne and sparkling wines.
The market was informed by the company through the Portuguese stock market and securities commission CMVM this week.
The controlling share in Saci belonged to the Saci Group which was controlled in equal shares by the Getto and Perlich families, with production in both Italy (Turin) and Germany.
A press release issued by the company states that following the Perlich family’s decision to sell its stake, the group’s shareholders “sought a shareholder which could share their vision of the business, and which was, therefore, able to understand the sector by collaborating in the growth and success of the group”.
“This is where Corticeira Amorim is a “natural partner for its 150 years of activity and success serving the world wine industry with a range of advanced and high-quality solutions” while the operation “aims to combine their successful entrepreneurial realities with the aim of creating a strong union of intentions”.
The press release continues “Corticeira Amorim has acquired a significant stake in the group with a strong product portfolio, an outstanding customer base, a high level of prestige and international market”. In 2020, the Saci Group recorded a consolidated turnover of €70 million and an EBITDA of €10.5 million.