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Campari buys Appleton rum maker
Gruppo Campari has announced it will buy the Jamaican distiller Lascelles deMercado for US$414.7 million.
Campari has agreed the purchase of an 81.4% controlling stake in the owner of Appleton Rum, Wray & Nephew and Coruba. This marks the third-largest acquisition in Campari’s history, after the purchase of the Wild Turkey and Skyy Spirits brands
Bob Kunze-Concewitz, Campari’s CEO, said the company’s entry into the rum category “will help us build our critical mass further in key North American markets, provide a leading market position in Jamaica, a major destination in the Caribbean, whilst laying the foundations for future international growth.”
He added: “This acquisition will give a further boost to the internationalisation of Gruppo Campari, further expanding our business outside of Italy, as well as strengthening our largest and most profitable business, the spirits segment.”
The acquisition of Lascelles deMercado includes sugar cane fields, two distilleries, one sugar factory, nine farms and 18 warehouses, all located in Jamaica, as well as a valuable inventory of aged rums.
The deal is due to be concluded in the fourth quarter of 2012.