Amorim takes over cork manufacturer Bourrassé

Wednesday September 20 2017 by Vitisphere

The world’s leading supplier of natural cork stoppers, Amorim, has invested 29 million euros in a 60% stake of rival Landes-based firm Christian Bourrassé. The initial acquisition covers 60% of shares in the Bourrassé group, with the remaining 40% due to be purchased before 2022 at a price in line with the 60% stake - €19 million euros, bringing the total take-over price to €48 million. The purchase includes the cork stopper specialist’s head office in Tosse, in the Landes area where Duvicq was bought in 1987 and Lisse in 1995, along with the Portuguese subsidiary company Socori (Sociedade de Cortiças de Riomeão, established in 1989), and Chilean subsidiary Corpack, based in Santiago since 1998.

Interim period

After taking over the family firm in 1968, Christian Bourrassé will become director, “ensuring a long-prepared and planned transition”, said a press statement. The group’s deputy managing director since 1988, Jean-François Troccard, will become chairman of the Bourrassé group as well as chairman of the board.

The Bourrassé group was looking for a solution for the succession of its current management. It was looking for a willing stakeholder with a good understanding of the industry who would ensure the continuity of its projects”, summed up a press statement from Corticeira Amorim. The Portuguese group has announced that it will be safeguarding Bourrassé’s identity and independence.

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