At the end of December, the Italian group Campari signed an agreement paving the way for its take-over of Cognac brand Bisquit from the South African group Distell. The transaction, which is designed to broaden Campari’s spirits portfolio, is due to be finalised in the first quarter of 2018. The deal totals 52.2 million euros and gives Campari a prestigious Cognac brand with a rich history spanning nearly 200 years.
But behind its illustrious namesake aperitif, what is Campari? In fact, the group is a genuine drinks empire. After this latest acquisition it becomes the world’s sixth-largest top-end spirits firm behind British behemoth Diageo, France’s Pernod Ricard and America’s Bacardi, with flagship brands such as Wild Turkey (bourbon), Skyy (vodka), Aperol and Grand Marnier, which it bought in 2016.
This will be the fifteenth acquisition for Robert Kunze-Concewitz, the 48-year-old Austrian and former Proctor & Gamble executive who is the group’s very dynamic current CEO. “Thanks to the super premium brand Bisquit Cognac and its strong heritage, we further enhance our premium brands portfolio, driving a richer product mix,” he said in a statement.
Written by Sylvain Patard