Crealis to buy Portuguese cork makers
French firm Crealis Group has agreed to acquire three Portuguese cork manufacturers to enable it to offer stoppers for premium spirits bottles.
Closures producer Crealis has reached an agreement to buy three businesses: Woodcap, Manuel Firinho & Filhos (MFF) and Jesus Couto & Pereira (JCP).
The family-owned companies specialise in the creation of wooden bartops and natural cork stoppers.
Combined, the three companies produce around 250 million units per year. Together, they also reached a global turnover of €25 million (US$27m) in 2022, Crealis said.
Crealis Group said the new acquisitions would complete the firm’s Supercap bartop division, enabling it to become the number two player in the bartop market.
The deal would lead to it become an ‘increasingly significant player in the capping industry’, Crealis noted.
With this acquisition, Supercap is forecasting a turnover of €100m (US$108m) in 2023.
Furthermore, the three brands would ‘strengthen the group’s industrial power’ through the creation of a new production hub in Portugal.
Once the deal is finalised, Crealis will have 18 production sites: three in Italy and Portugal, two in Spain and the US, five in France, and one in Australia, New Zealand, and Mexico.
The families behind the three companies will continue to manage their firms following the transaction.
The deal is expected to be completed by the end of March.
Crealis was formed in 2022 following the merger of Sparflex, Enoplastic, Pe.Di and Supercap.
The group produces closure solutions for still and sparkling wines, spirits, beers, olive oil and vinegar.
In July last year, Guala Closures agreed to acquire stoppers producer Labrenta to strengthen its position in the luxury segment.
Guala Closures recently received planning approval to build a £36m (US$40.6m) factory in Scotland.
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