Gruppo Campari has announced that it is to acquire an 81.4 per cent stake in Lascelles deMercado & Co. Limited, owner of Appleton Estate rum. In a $414.8 million deal, the Italian drinks company plans to buy the remaining share of the Jamaica-based company by the end of the year.
The company's rum business includes Jamaican brands including White, Wray & Nephew and Coruba and Campari will acquire the related upstream supply chain, as well as its local consumer products distribution business. The deal will see the Americas make up 40 per cent of the company's revenue and CEO Bob Kunze-Concewitz is confident that it will lead to a profit next year.
This transaction is the third largest acquisition in Campari’s history and will give the company a leading position in the production of premium rum. Kunze-Concewitz said, "When completed, this acquisition will give a further boost to the internationalisation of Gruppo Campari, further expanding our business outside of Italy, as well as strengthening our largest and most profitable business, the Spirits segment." (4 Sept)
© 2012 - ESM: European Supermarket
