Cork Supply, a manufacturer of corks for the wine industry, made two acquisitions in one go, investing eight million euros.
In a statement, this company, the second largest Portuguese cork group, which competes in the competitive business with Corticeira Amorim, reveals the acquisition of two companies in this industry: one French and one Portuguese. An investment of eight million that aims to “continue to grow and invest in the spirits industry and grow in the French market for still wines”.
Cork Supply has moved towards the purchase of 75% of the capital of Legnokaps, a Portuguese company, with an annual turnover of around 3 million euros, specializing in wooden capsules for bartops of spirits. André Neves, partner and founder of Legnokaps, will remain with the company as CEO.
In addition, all of Bouchons Abel was acquired in France, which finishes and markets natural and technical corks in France, Spain, Switzerland and Germany. This company has a turnover of around 5.5 million euros. Cork Suppy thus reinforces “its presence in the French market for still and sparkling wines/champagne, reinforcing its presence also in other important European markets”.
Two investments made in a “time of uncertainty”, as Jochen Michalski, president and founder of Cork Supply, points out in a statement. Cork Supply, which has more than 500 employees, had a turnover of 132 million euros in 2021.
Owned by Jochen Michalski, Frederico Lima Mayer and the Mardel Correia family, Cork Supply was born in the United States. Jochen Michalski was in California when in 1981 he decided to go ahead with the founding of the cork-related company. German by birth, he arrived early, at the age of five, in Portugal, where he remained until the late 1970s, when he left for the United States. But then he returns to Portugal where he grew Cork Supply, which is increasing its production capacity with the construction of a new factory of 3,000 square meters, in an investment of 5 million euros.
In October of last year, he had revealed to Negócios that it was a year to produce 480 million caps, but that “our goal is to double it, reach a production of one billion.”
Source: Observadora
