Mozelos, Portugal, Oct. 2, 2024 (Lusa) - Italy's SACI, which is 50% owned by Portugal's largest cork producer, Corticeira Amorim, has reached an agreement to acquire Intercap, which produces capsules for bottles for sparkling and still wines, for €10 million, according to a statement to the stock market.

In the note sent to the Portugal's Securities Markets Commission (CMVM), Corticeira Amorim said that "the Italian group SACI, owned equally by Corticeira Amorim (through its subsidiary Amorim Cork S.G.P.S., S.A) and the Getto family, has reached an agreement to acquire 100 per cent of the share capital of the Italian company Intercap S.r.l., based in Canelli (Piedmont, Italy) for a value of €10 million."

The acquisition, the statement adds, "will be carried out in two steps (acquisition of 55% in October 2024 and the remaining 45% in March 2025) [from] the company Paradigma, owned by Graziano Bocchino, who will continue to support and contribute with his know-how and entrepreneurial vision."

Corticeira Amorim explained that Intercap, founded in 1986, "is specialized in the production of surbouchage capsules for sparkling and still wines, with sales in more than 40 countries and the Italian market accounting for around 70% of its turnover, which, in 2023, stood at 13 million euros."

The company has 60 employees and has "its industrial base in Canelli, with subsidiaries in France, the United States of America and Chile.

"This acquisition reinforces the SACI group's skills in this area, allowing it to offer a more comprehensive offer for the sparkling wine segment, with services and a range of products capable of meeting the demands of the market," he statement concludes.

Corticeira Amorim bought 50% of SACI in January 2022, for €48.66 million.

ALN/ARO // ARO.

Lusa