Gruppo Campari is to acquire Carolans, Frangelico and Irish Mist from William Grant & Sons for £108.1 million.
Italian beverage producer Gruppo Campari has agreed to acquire the drinks brands Carolans, Frangelico and Irish Mist from William Grant & Sons for €129 million (£108.1 million).
The acquired business includes the trademarks and finished goods of the three brands. The acquisition is expected to contribute around 1 million nine-litre cases and net sales of around €50 million annually and will be self-financed by Gruppo Campari.
Bob Kunze-Concewitz, CEO of Gruppo Campari, says: ‘This acquisition represents a perfect fit in our acquisition framework, in business and financial terms. Moreover, it will benefit from low risk and easy integration, as we already account for 60 per cent of the acquired portfolio volume and we are the global source for Frangelico’.
Founded in 1860, Gruppo Campari produces spirits, wines and soft drinks including the brands Campari and Cinzano. In 2009 the company declared a net profit of €137.1 million on a turnover of around €1 billion.
Surrey-based William Grant & Sons is a family owned spirits distiller producing brands including Glenfiddich whisky and Hendrick’s gin.