Corticeira Amorim SGPS S A : 11 January2022 Corticeira Amorim informs about the acquisition of a 50% stake in Saci, S.r.l, headquartered in Ivrea, near Turin, Italy
January 11, 2022 at 11:58 am EST
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PRESS RELEASE
CORTICEIRA AMORIM
Disclosure of Material Information
Mozelos, Portugal, January 11, 2022
CORTICEIRA AMORIM, S.G.PS., S.A. ("CORTICEIRA AMORIM") in accordance with article 248-A, paragraph 1, point a) of the Securities Code, hereby informs the market and, in particular, its shareholders that:
CORTICEIRA AMORIM, through its subsidiary AMORIM CORK, SGPS, S.A., reached an agreement with a view to the acquisition of 50% of the share capital of SACI S.r.l. ("SACI Group"), headquartered in in Ivrea (near Turin) for an amount of € 48,66 million. SACI Group was controlled in equal shares by the Getto and Perlich families, based in Italy and Germany, respectively. The Group consists of 17 companies acting in diversified sectors having as principal activity the production and commercialization of wirewoods with a team of about 340 employees and presence in more than 30 countries.
The most relevant subsidiary of SACI Group is I.C.A.S. - Industria Canavesana Attrezzature Speciali S.p.A. (ICAS). ICAS was established in 1956 in Ivrea, by Bruno Getto. Mr Getto aimed to meet the specific requests of the first Italian sparkling wine producers, by creating and developing a high-precision automatic machine to industrialize the production of wirehoods, which had been made by hand so far. ICAS is currently the world-leading producer of wirehoods. The continuous investments in R&D, the use of state-of-the-art machinery and its high skilled team, support a diversified and technologically advanced range of products with high-quality and exclusiveness recognized by its customers, whilst ultimately providing end consumers with a reliable experience when opening the bottle.
SACI Group has been continuously expanding its product range, which also includes wire caps and cords, closures for Wine and Champagne industries, offering individual and efficient solutions for its customers. The Group also provides technical support to the cellars, which range from consultancy to the installation of its conveyor and handling systems to closure systems. Its main industrial facilities are based in Italy, Germany and Portugal and its most significant geographical markets are Italy, France, and Germany.
Following the decision of the Perlich family to sell their stake, the shareholders of the SACI Group sought a shareholder who could share their vision of the business and who was therefore able to understand the sector by collaborating in the growth and success of the Group. CORTICEIRA AMORIM has emerged as 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, that favour lasting relationships with its partners.
Corticeira Amorim, SGPS, S.A.
Representante para as Relações
Edifício Amorim I
com o Mercado | IRO:
Rua Comendador Américo Ferreira Amorim, 380
Ana Negrais de Matos, CFA
4535-186 Mozelos, Portugal
T: + 351227475423
F: + 351 227475407
www.corticeiraamorim.com
ana.matos@amorim.com
Sociedade Aberta
Capital Social: € 133 000 000,00
Pessoa Coletiva e Matrícula: PT500077797 C.R.C. de Santa Maria da Feira - Portugal
instagram: amorimcork
This operation was also made possible by the historical knowledge of the Getto and Amorim families and aims to combine their successful entrepreneurial realities with the aim of creating a strong union of intentions that will allow CORTICEIRA AMORIM Group and the SACI Group to consolidate and synergistically grow their respective excellences.
It is expected that SACI Group will maintain its identity and autonomy so that its brands may be thereby safeguarded.
In the 2020 financial year, SACI Group recorded a consolidated turnover of € 70 million, an EBITDA of € 10.5 million.
By means of this operation, CORTICEIRA AMORIM has acquired a significant stake in a group with a strong product portfolio, an outstanding customer base, a high level of prestige and international market recognition and will reinforce its presence in the wine supply chain, and expecting to leverage the expertise, technical know-how and competence of SACI Group, strengthening its presence in the world.
The Board of Directors
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Corticeira Amorim SGPS SA published this content on 11 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2022 16:57:07 UTC.
Tracing its roots back to the 19th century, Corticeira Amorim, SGPS, S.A. has become the world's largest cork and cork-derived company in the world, generating more than EUR 985.5 million in sales to more than 100 countries through a network of dozens of fully owned subsidiaries. With a multi-million Euro R&D investment per year, Corticeira Amorim, SGPS, S.A. has applied its specialist knowledge to this centuries-old traditional culture, developing a vast portfolio of products, solutions and materials that are used by blue-chip clients in industries as diverse and demanding as wines & spirits, aerospace, automotive, construction, sports, architecture and design.
Net sales by business unit break down between Cork Stoppers (75.9%), Composite Cork (12%), Floor and Wall Coverings (9.1), Insulation Cork (1.6%) and Raw Materials (1.4%).
Net sales are distributed geographically as follows: Portugal 6.8%), EU excluding Portugal (61.8%), Other European countries (2%), the United States (16.4%), America excluding the United States (6.5%), Australasia (5.1%) and Africa (1.4%).
Corticeira Amorim, SGPS, S.A.'s responsible approach to raw materials and sustainable production illustrates the remarkable interdependence between industry and a vital ecosystem - one of the world's most balanced examples of social, economic and environmental development.
Corticeira Amorim SGPS S A : 11 January2022 Corticeira Amorim informs about the acquisition of a 50% stake in Saci, S.r.l, headquartered in Ivrea, near Turin, Italy
CORTICEIRA AMORIM, SGPS, S.A. 
