Gruppo Campari has announced it has completed the signing of an agreement for the acquisition of French spirits maker Rhumantilles SAS.
The deal, which is worth €60 million, was initially announced in July, and is expected to close in the fourth quarter of this year.
Premium Rums
Rhumantilles SAS is a 96.5% owner of Bellonnie&Bourdillon Successeurs, a Martinique-based producer of premium rums Trois Rivières and Maison La Mauny, both of which have a strong presence in France, as well as Duquesne, a brand for the Martinique market.
In a statement, Campari said, 'With this acquisition Campari Group will add prestigious agricole rum brands to its offering and enhance its exposure to rum, a premiumising category currently at the heart of the mixology trend and growing cocktail culture. Moreover, Campari Group will add significant critical mass in France, poised to become one of the Group’s strategic markets.'
First-Half Sales
In July, Campari announced an 8% in organic first-half sales, boosted by a strong performance in North America, with its Aperol spirit seeing a 22% growth in sales in the period.
Commenting on its outlook for the remainder of the year, chief executive, Bob Kunze-Concewitz said, "The positive business momentum is expected to continue, with persisting volatility of emerging markets in their key seasonality period. We remain confident in delivering a positive performance across all key underlying business indicators."
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
