CORTICEIRA AMORIM, through its subsidiary AMORIM FLORESTAL II, S.A., today acquired a 50% stake in Cold River's Homestead, S.A. owned by PARVALOREM, S.A., having been verified the requirements and conditions set out in the agreement signed with PARVALOREM in June 2021. Following this acquisition, for the total amount of €14.6 million, the Corticeira Amorim Group now fully owns Cold River's Homestead, S.A.
The company, headquartered in Lisbon, owns a group of assets (movable and immovable) allocated to agroforestry that constitutes part (3,300 hectares) of Herdade de Rio Frio, a predominantly forested estate, with a cork oak forest covering about 80% of its total area.
As is generally known, CORTICEIRA AMORIM operates a Forest Intervention Project that aims to ensure the maintenance, preservation and improvement of cork oak forests and the development of the cork oak species. It also aims to increase the production these forests through innovative processes and technologies already tested in other areas. It is CORTICEIRA AMORIM's ambition to become a centre of excellence in cork oak research and to carry out applied research into the impact of irrigation, fertilisation, nutrition and soil, and, through a cork oak improvement programme, into the selection of the cork oak varieties best adapted to different climate scenarios.
As previously announced, CORTICEIRA AMORIM plans to improve the productivity of agroforestry operations at Herdade de Rio Frio, specifically by increasing the density of tree planting in this unique cork oak forest, using methods previously tested in other localities.
In implementing its Forest Intervention Project, CORTICEIRA AMORIM remains receptive to analysing partnership opportunities with forestry producers, research institutions and local public entities, as well as to the acquisition of agroforestry assets with the potential to develop and improve cork oak forests.
The Board of Directors
Corticeira Amorim, SGPS, S.A.
Representante para as Relações
Edifício Amorim I
com o Mercado | IRO:
Rua Comendador Américo Ferreira Amorim, 380
Ana Negrais de Matos, CFA
4535-186 Mozelos, Portugal
T: + 351227475423
F: + 351 227475407
www.corticeiraamorim.com
ana.matos@amorim.com
Capital Social: € 133 000 000,00
Pessoa Coletiva e Matrícula: PT500077797 C.R.C. de Santa Maria da Feira - Portugal
instagram: amorimcork
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Corticeira Amorim SGPS SA published this content on 15 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2022 18:52:01 UTC.
Tracing its roots back to the 19th century, Corticeira Amorim, SGPS, S.A. has become the world's largest cork and cork-derived company in the world, generating more than EUR 1,021 million in sales to more than 100 countries through a network of dozens of fully owned subsidiaries. With a multi-million Euro R&D investment per year, Corticeira Amorim, SGPS, S.A. has applied its specialist knowledge to this centuries-old traditional culture, developing a vast portfolio of products, solutions and materials that are used by blue-chip clients in industries as diverse and demanding as wines & spirits, aerospace, automotive, construction, sports, architecture and design.
Net sales by business unit break down between Cork Stoppers (72.8%), Floor and Wall Coverings (12.5%), Composite Cork (12%), Insulation Cork (1.4%) and Raw Materials (1.4%).
Net sales are distributed geographically as follows: Portugal (7.5%), EU excluding Portugal (62.6%), Other European countries (2.4%), the United States (14.6%), America excluding the United States (7%), Australasia (4.5%) and Africa (1.4%).
Corticeira Amorim, SGPS, S.A.'s responsible approach to raw materials and sustainable production illustrates the remarkable interdependence between industry and a vital ecosystem - one of the world's most balanced examples of social, economic and environmental development.
CORTICEIRA AMORIM, SGPS, S.A. 
