Italian spirits and food giant Gruppo Montenegro has expanded its portfolio by acquiring Pampero rum from beverage giant Diageo.
This strategic move adds Pampero to Montenegro's collection of iconic Italian brands, including Amaro Montenegro, Select Aperitivo, Vecchia Romagna Brandy, and Rosso Antico Vermouth.
With an 85-year history, Pampero is one of the leading Venezuelan rum brands, recognised as the first aged for over two years. It boasts the top spot in Italian rum sales and enjoys a strong market presence across Europe, mainly in Italy and Spain.
Pampero produces a range of rums, including Pampero Blanco, a white rum SKU used to make cocktails; Pampero Especial, a rum SKU aged for around two years; and the Pampero Aniversario rum, also aged and sold in a brown leather pouch.
Paul Douek, executive board member at Gruppo Montenegro, commented, “Pampero's exceptional heritage and unique qualities will greatly enrich our spirits portfolio. We are particularly pleased that this milestone has been achieved following the appointment of Gruppo Montenegro’s new CEO, Sergio Fava.
“The acquisition of Pampero marks a new pivotal phase for Gruppo Montenegro as we fortify our global expansion with our new leadership team”.
Both companies have entered a fixed-term, post-acquisition transition services agreement to ensure a seamless transition.
'Disciplined And Strategic Approach'
John Kennedy, president of Diageo Europe, added, “The sale of Pampero demonstrates our disciplined and strategic approach to capital allocation. It will allow us to concentrate on our portfolio’s core areas of strength as we accelerate towards our ambition; to be one of the best performing, most trusted and respected consumer products companies in the world.
“We are confident that Gruppo Montenegro is the right owner to maintain and build on Pampero’s authenticity and its leading position in Italy and across continental Europe.”
Gruppo Montenegro’s brands are available in over 70 countries, while Diageo’s brand portfolio, which includes Johnnie Walker, J&B, Buchanan's, Smirnoff, Baileys, Don Julio, and Tanqueray; is enjoyed in nearly 180 countries worldwide.
Recently, Diageo agreed to sell fruit-flavoured liqueur brand Safari to Portuguese beverage-alcohol company Casa Redondo.
