Campari buys three liqueur brands from William Grant for €129 million
17 Sep 2010
Gruppo Campari, the world's sixth-biggest company in the branded spirits market, yesterday acquired three liqueur brands from distellers William Grant & Sons for €129 million.
The Milan, Italy-based spirits maker, which owns the renowned namesake bitter red aperitif as well as Glen Grant whisky bought Carolans, the world's second best-selling Irish cream liqueur after Bailey's Irish Cream, Frangelico, a leading specialty premium liqueur and Irish Mist, a leading Irish whiskey based liqueur from privately-owned Scottish whisky group William Grant.
William Grant & Sons, the largest of the handful of Scotch whisky distillers remaining in family ownership and the world's third-largest producer of Scotch whisky had bought the three liqueur brands as well as Tullamore Dew Irish whiskey from Ireland's C&C Group for €300 million in April 2010.
Gruppo Campari, the €1.08 billion turnover company that has grown through strategic acquisitions having made 17 in the last 15 years, said that the acquisition of the three liqueur brands will reinforce its position as a fast growing company in the US and key international premium spirits markets.
It added that the acquired business is expected to contribute net sales of €50 million annually.
Carolans is an Irish cream liqueur that is sold in more than 60 markets with the US being its largest market, accounting for 60 per cent of its sales, while Frangelico is a premium Italian hazelnut liqueur, a highly-profitable specialty brand sold in more than 90 markets. Again the US is its largest market, accounting for 50 per cent of its sales.
