Campari Group has reached an agreement with members of the company’s controlling shareholder family listed on the French Société des Produits Marnier Lapostolle SA (‘SPML’) to acquire control of the company.
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Campari has grown steadily over the past few years, both organically and through acquisitions, to become the world’s 11th largest spirits-maker in 2014, with brands such as SKYY vodka, Wild Turkey, Aperol and Cinzano.
“Grand Marnier will benefit from the strategic focus of the strengthened Gruppo Campari RTM as a key Brand within our Global Priorities portfolio across all markets”. The deal includes the immediate acquisition of shares representing 17.19% in full ownership, 1.06% in bare ownership and 1.54% in usufruct of SPML’s capital through block transactions and the acquisition as from 2021 via put and call options of all remaining shares, the Italian beverage giant said in a statement Tuesday.
“With Grand Marnier”, he added, “we further consolidate our position as the leading purveyor of premium liqueurs and bitter specialties worldwide”.
Under the deal, Campari will take control of the remainder of the family-held shares by 2021.
Kunze-Concewitz highlighted Gruppo Campari’s acquisition of Grand Marnier in particular as a welcome boon to its efforts to capitalise on the “revival of classic cocktails” in the US.
Grand Marnier’s sales of finished goods fell 2 percent at constant currencies to 130 million euros previous year.
The Italian company will also be appointed global and exclusive distributor of Grand Marnier spirits portfolio. Grand Marnier, an orange flavored liqueur made from cognac brandy and sugar, is used in cocktails such the Cadillac Margarita, a B-52, and a Cosmopolitan.
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Marnier-Lapostolle, the company that makes Grand Marnier, was founded in 1827 by Jean-Baptiste Lapostolle by putting up a modest distillery in Neauphle-le-Château, a small village near Paris. However, the impact on the current year will be more limited as the company is only due to be consolidated from the second half.
