Clifford Chance advised the world leader in cork stoppers for wine, sparkling and spirits, Amorim, on acquisition of 50% stake in the Czech Republic-based glass closure business Vinolok for €10.988 million.
CORTICEIRA AMORIM, SGPS, S.A., through its subsidiary AMORIM & IRMÃOS, S.A., has entered into a joint venture with Preciosa, which will retain the remaining 50% share of Vinolok.
The acquisition will provide Amorim access to Vinolok’s production and management, whereas Vinolok, which generates annual sales of around €16 million and employs around 170 people, will benefit from Amorim’s global distribution network, which generates over €760 million in revenue each year with a presence in more than 100 countries.
Preciosa Group, based in the Czech Republic’s so-called ‘crystal valley’, is a leading international glass manufacturer. With a presence in over 140 countries, the group crafts products including glass jewellery, interior decoration and cut crystals.
Corticeira Amorim is the largest world producer of cork products and the most international of Portuguese companies.
The Clifford Chance core team advising on the transaction consisted of Prague office’s Partner and co-head of the corporate practice David Kolácek (Picture), M&A and corporate Associates Ludvík Ruicka and Veronika Kinclová, and Junior Lawyer Jana Zákravská.
Law Firms: Clifford Chance;