Four Generations, One Destination:
Excellence

Grupo Amorim

The Amorim Group is one of the largest, most dynamic and entrepreneurial multinational companies of Portuguese origin. It began trading in the cork business, in 1870, and is today a leader of the global cork sector.

Guided by a vision of sustained growth, the Group has diversified its operations, through investment in different sectors and geographic areas with a high profitability potential.

In the 1960s, with the third generation already at the helm, the group initiated a major internationalisation and vertical integration strategy for the cork business, inspired by the motto "not just one market, not just one client, not just one currency, not just one product". The group managed to surpass geographical boundaries and high-risk constraints, presenting cork to the world and creating a vast network of subsidiaries. This network now includes more than 50 subsidiaries and 10 joint ventures, aiming to anticipate market trends, that serves more than 27,000 customers in industries that are as demanding as aerospace, automobiles, construction, sports, energy, architecture and design, and still and sparkling wines and spirits. Cork is supplied to all these sectors with high degree of quality, performance, innovation and sustainability.

The family’s third generation, led by the vision and audacious spirit of Américo Ferreira de Amorim, reached out to the four corners of the world. The group expanded its horizons, with the goal of achieving a more open international dimension for the Group and for Portugal as a whole. This strategy made it possible to modernise various business sectors, improve Portuguese living conditions and helped rebuild Portugal's global prestige.

In the 1980s, as the young Portuguese democracy consolidated its parliamentary regime and Portugal joined the European Economic Community, the Amorim Group embarked on an ambitious business diversification strategy, operating in emerging sectors within the Portuguese economy, such as finance, real estate, hotels and tourism, telecommunications and new technologies.

"THE FUTURE IS BUILT EVERY DAY."

Américo Ferreira de Amorim

One of the group’s most audacious initiatives was the project to launch the first private commercial bank in Portugal after the 1974 revolution.

One of the group’s most audacious initiatives was the project to launch the first private commercial bank in Portugal after the 1974 revolution, inspired by Américo Ferreira de Amorim’s determination and commitment, in keen awareness of the need for “an open, strong, dynamic bank, that would serve civil society, be a scenario for active economic agents, with a large nucleus of leading Portuguese shareholders. ” This led to the creation of the Banco Comercial Português in 1985, establishing the legal and market conditions for the creation of other private banks in Portugal.

Over the ensuing years, Americo Ferreira de Amorim acquired shareholdings in several other financial institutions, such as Soserfin, Bank of Lisbon International (South Africa), Socifa & Beta, Credifin, Autoleasing and Lusofactor. In 1991, he successfully led the creation of a new bank, the BNC - Banco Nacional de Crédito Imobiliário, S.A.

The Amorim Group also undertook numerous projects in the areas of real-estate promotion, investment and services. This included emblematic projects such as the Torres de Lisboa, Entrecampos, Éden, S. João Bosco, Malhoa Building, Nova Campolide, Capitólio Building, Paço da Boa Hora; new real estate concepts, such as Studio Residence and Highgrove; large integrated retail centres (with shops, services, logistics), such as Arrábida Shopping, Sintra Business Park; major sports, leisure and shopping centres, such as the sports complex in Antas, Porto and Coimbra; and renowned tourist developments, such as the Sofitel hotel in Vilamoura. This represents a total of 1.5 million square metres of real estate ventures, from the north to south of Portugal. This activity has been developed at the group’s own initiative or in association with important partners, such as GE Capital, ISM and the Caixa Geral de Depósitos.

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subsidiaries in the network

joint-ventures

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customers in varied industries

In 1987, the Amorim Group established a joint venture with the French group, Accor, the world's largest hotel operator, and embarked upon major intervention in the Tourism sector. By virtue of this mutually beneficial partnership, the two groups set up a series of companies to explore ACCOR’s various brands across different segments: Novotel, IBIS, Mercure and Sofitel (Accor's premium brand). This includes over 60 hotels and a total of 6,000 beds under joint management, as part of a vast and eclectic offer.

The acquisition of Sociedade Figueira Praia, S.A., the concessionaire of the Casino da Figueira, marked the Group's first investment in the Leisure segment. This company also owned a vast real estate heritage, five hotel units, an urbanisation project encompassing over 1,000 houses, a casino, Palácio Sotto-Mayor and bingo concessions in Leiria, Viseu and Aveiro. As such, it was an extremely important instrument for boosting tourism in the entire Centre region of Portugal.

Américo Ferreira de Amorim, an avid observer of key global trends, also had special interest in new technologies. 

He considered that science and engineering would deliver increasing efficiency levels to businesses, through improved communications, information collection and processing, and mechanisation of routine tasks.

For this reason, he embraced specific initiatives related to this promising new business field. In 1991, he was a member of the winning consortium for Portugal’s first mobile telecommunications operator, Telecel. In record time, the operator planned, built and implemented its digital network, which within the space of a year already covered a large proportion of the Portuguese population and territory.

This desire inspires and unites the new generation now at the helm of the family business - the fourth generation.

Over the years, the Amorim Group's investment portfolio has included many other projects and businesses, ranging from textiles, including a partnership with the German company, Gierlings, to ​​insurance and reinsurance, including a partnership with Heath Lambert, and the area of ​​trading, services and information technologies.

Over these busy decades with major growth, the organisation of the Amorim Group has been improving and increasing its professionalism, adopting the logic of an economic group. In 1988, Corticeira Amorim became the sub-holding for all companies related to cork processing and part of its share capital was listed on the Portuguese stock exchange. 

In 2005, the Amorim Group refocused its interests and shareholdings in Corticeira Amorim, its core business, while maintaining its investments and developing other areas related to nature, such as wine growing and wine tourism, thus achieving an offer of exceptional quality and distinction. The group’s portfolio includes Quinta Nova de Nossa Senhora do Carmo (in the Douro Demarcated Wine Region) and Taboadella (in the Dão Demarcated Wine Region).

Upholding principles of economic, social and environmental development, the Amorim Group continues to be based on the foundations through which it has built its heritage - corporate vision, responsibility, diligence, creativity, innovation and its mission to attain excellence, both in terms of management, as well as products and services.

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