CORTICEIRA AMORIM ACQUIRES 50% FROM CZECH COMPANY VINOLOK

Corticeira Amorim, through its subsidiary Amorim e Irmãos, acquired 50% of the Czech company Vinolok for 10.99 million euros, according to a statement sent to the market.

According to the statement sent by Amorim to the Portuguese Securities Market Commission (CMVM), Corticeira Amorim "celebrated an agreement for the acquisition of 50% of the society Vinolok, a.s., located in Jablonec nad Nisou, Czech Republic”.

In the same statement, the 50% of Vinolok's share capital was acquired, "for the amount of 10.988 million euros, from the Preciosa Group, which will maintain the remaining 50% ownership, ensuring a shared management of the acquired company".

For the group Amorim, "Preciosa group has been developing Vinolok's business since 2011 having concentrated such activity in the society Vinolok, a.s., formed on January 29, 2018".

Vinolok is dedicated to "the production and marketing of glass closures for wine and spirits bottles", informs the statement sent to the CMVM.

The company acquired by 50% by Amorim has 170 employees and in 2018 "had a turnover of around 16 million euros and an EBITDA [earnings before interests, taxes, deductions and depreciation] of 5.3 million euros".

Vinolok "serves the premium international wine and spirits market," says Amorim, which hopes that the "historic cork and glass association will lead to additional gains in sustainability and packaging design" produced.

The Preciosa group, according to Corticeira Amorim, "is a world leader in the supply of top quality Czech crystal components, producing semi-finished products for the jewelery and fashion industries".

"The Preciosa brand was registered in 1915 in Bohemia and in 1948 it was constituted the Preciosa company”, informs the statement to the market.

By 16:35, Corticeira Amorim was losing 0.10% to 9.63 euros in the PSI20 index of the Lisbon Stock Exchange.