The Portuguese company Cork Supply announced on Wednesday the acquisition of French Bouchons Abel and Portuguese Legnokaps, deals worth €8 million, to bolster its position in the wine and spirits market.
“Cork Supply, a Portuguese company specialising in natural and technical cork stoppers for wines and sparkling wines, has just announced the acquisition of two companies in the same industry, an investment of €8 million, so it can continue to grow and invest in the spirits industry and grow in the French still wines market,” says the statement, which reveals that “the two businesses involved a total investment of €8 million.
According to the information, Cork Supply has acquired the entire share capital of Bouchons Abel, “a French company which finishes and markets natural and technical stoppers in France, Spain, Switzerland and Germany”, and which, it indicates, has a turnover of €5.5 million.
“This is a strategic business deal for Cork Supply, which increases its presence in the French still and sparkling wine/champagne market while also strengthening its presence in other major European markets,” it explains.
The Portuguese company specialising in natural and technical stoppers for wines and sparkling wines has also bought 75% of the capital of Legnokaps, a domestic company “specialising in wooden capsules for spirit closures”, with “annual sales of around €3 million”.
Cork Supply said that the partner and founder of Legnokaps, André Neves, will remain as CEO.
“We cannot stop investing even in times of uncertainty. We have the ambition to grow in strategic areas and markets, and these two companies will help us consolidate our strategy based on quality and presence in high potential geographical markets and business areas”, said Jochen Michalski, president and founder of Cork Supply, quoted in a press release.
Cork Supply also said it was increasing production capacity and expanding its business by building “a new sustainable factory” with 3,000 square metres for Talis, the brand of wooden capsules for closures, in an investment of around €5 million.