In the first phase, the Italian beverage company will purchase 70% of the Wilderness Trail whiskey company, and it plans to purchase the remaining 30% by 2031
The Italian drinks company Campari will buy 70% of the American whiskey company Wilderness Trail for 420 million dollars. The value of the company in the transaction is estimated at 600 million dollars, according to a report on the Bloomberg website. According to the report, Campari plans to acquire the remaining 30% by 2031.
According to the CEO of Campari, Bob Kunz-Kunczewicz, this move will help the Italian beverage producer to expand the bourbon drink offering.
Kunz-Konchevic also noted that the company expects half of its future growth to come through acquisitions. Bourbon whiskey makes up about 13% of the spirits market in the United States and is growing very fast. According to the CEO, the American market remains a priority.
Bloomberg added that European beverage manufacturers were looking for deals in the United States to expand their traditional offerings to include American tequila and whiskey.
Meanwhile, about a week ago, Campari reported good results for the third quarter of 2022, which exceeded the early forecasts of the analysts.