Clearwater International advises Corticeira Amorim on the acquisition of Herdade de Rio Frio from Novo Banco
Clearwater International has advised Corticeira Amorim, the largest cork and cork-derived conglomerate in the world, on the acquisition of Herdade de Rio Frio, an 1,855-hectare plot of land, from the Portuguese bank, Novo Banco.
Herdade de Rio Frio is primarily a forested estate, with a strong coverage of cork oak. In line with its Forest Intervention Project, Corticeira Amorim will improve the productivity of agroforestry operations at Herdade de Rio Frio, by increasing the density of tree planting in this unique cork oak forest.
The preservation of the cork oak forest is one of the strategic goals of Corticeira Amorim, which intends to continue its active participation in the intervention of new cork oak plantations through land purchases, leasing, and partnerships. The company’s objective is to carry out applied research on the impacts of irrigation, fertilisation, nutrition, and soil on the cork oak tree. In addition, the aim is to help promote and disseminate the use of new techniques for planting and managing the cork oak forest, which are more efficient and resilient to forecast climate scenarios.
This acquisition will enable Corticeira Amorim to expand its area of intervention, with important gains in scale and operational leverage.