Complete News World

Cortesera Amorim buys 50% of the Italian group SACI for 48.6 million euros

Cortesera Amorim buys 50% of the Italian group SACI for 48.6 million euros

Corticeira Amorim has reached an agreement to acquire 50% of the Italian group SACI, specializing in the manufacture of Muselets (wire components covering the corks of sparkling wine bottles), for 48.66 million euros, the acquisition of the stake hitherto owned by the German Perlich family.

In a statement to the Securities Market Authority (CMVM), Cortesira Amorim explained that the SACI group “consists of 17 companies operating in different sectors, the main activity of which is the production and sale of Muselets With a team of approximately 340 employees and a presence in more than 30 countries.”

The main company of the SACI group is ICAS, founded in 1956 in Ivrea, near Turin, by businessman Bruno Gitto, whose family will continue to own 50% of the group, now in partnership with Corticeira Amorim.

According to the Portuguese company, ICAS is currently “the world’s leading producer of Muselets“The SACI group is constantly expanding its product range, which also includes covers, wire harnesses and seals for the wine and champagne industries,” adds Cortesira Amorim, who also stated that the Italian group “also provides technical support for cellars,” and “its main industrial facilities are located in Italy.” Germany and Portugal and its most important geographical markets are Italy, France and Germany.

In 2020, SACI Group had sales of €70 million and EBITDA (earnings before interest, tax, depreciation and amortization) of €10.5 million, according to a statement issued by Corticeira Amorim to CMVM.

(news updated at 17:07 with more information)

See also  Credit rejected by banks due to Banco de Portugal ruling is growing