Setterwalls advisor to the world’s largest cork company Corticeira Amorim in the acquisition of 70 % of the shares in the wooden tops producer Elfverson & Co AB
Setterwalls has assisted the Portuguese listed company Corticeira Amorim - the world's largest cork producer - in the acquisition of 70% of the shares in Elfverson & Co AB which manufactures wooden tops to the international liquor industry. The company is over 100 years old and has in earlier days been a leader in the production of wooden spools and jojos. The Seller is Vätterledens Industri och Handel AB, which acquired the company in 1990 from Hexagon. Elfverson & Co AB had a turnover 2017 of approximately SEK 50M and 44 employees. 30% of the shares remain in Vätterleden and may be acquired by Amorim from 2020. Amorim is the world's largest cork producer with sales in excess of EUR 640M in over 100 countries.