The Czech Republic-based Preciosa Group will retain the remaining 50% stake.

The company statement says the deal, which grants Amorim access to Vinolok’s management, will complement Amorim’s product portfolio, leveraging its global distribution network to achieved further growth for the easy-to-open, convenient glass stoppers designed for the premium and ultra-premium segments of a wider market.

Amorim chairman and CEO, Antonio Amorim, said: “Cork and glass are two key components in the history of wine and spirits and this deal brings that historical partnership to an entirely new level. The prospects of everything that will now be possible doing in terms of innovative, convenient, yet sustainable, premium packaging are truly exciting.”

Ales Urbanek, Vinolok’s CEO added: “The identity of Vinolok will be reinforced because we now have an industrial partner that will complement our knowledge and presence in the world’s premium wine and spirits market” 

With annual sales of approximately €16 million and a skilled work force of about 170 people, Vinolok will continue to be headquartered in the Czech Republic’s so called ‘Crystal Valley’, where Bohemian crystal has been made since 1550.