2024-05-02 15:59:18
Italian group Campari has finalized the acquisition of cognac Courvoisier for 1.08 billion euros, in the most significant transaction in its history.
An additional amount of 112 million euros will be payable in 2029 depending on the achievement of the targets set for the 2028 financial year, the Campari group also said in a statement issued.
The Campari group thus confirmed the terms of an agreement with the American spirits group Beam Suntory to acquire 100% of the capital of Beam Holding France, which was the owner of the premium cognac brand Courvoisier.
Campari buys Courvoisier for $1.2 billion
The Italian group is already in the French market, having acquired Grand Marnier liqueur in 2016 following a takeover bid that valued the business at 684 million euros.
Campari had also acquired Bisquit Dubouché cognac in 2017, Trois Rivières rum and La Mauny rum in 2019, as well as Lallier champagne in 2020 and the Picon brand of aromatic liqueurs in 2022.
The House of Courvoisier, founded in 1828 by Félix Courvoisier in Jarnac in the Charades region, made its mark in history as the official supplier to Emperor Napoleon III.
Courvoisier “supplied the royal courts of Europe and was a favorite drink of the Belle Epoque, as it had been chosen to celebrate the opening of the Eiffel Tower and the Moulin Rouge,” commented the Campari group in December, when it announced that it was starting exclusive negotiations with Beam Suntory.
This transaction is expected to help increase the production and bottling capabilities of the Campari group in France and allow it to strengthen its presence in the United States.
The Campari company was founded in 1860 and from 1995 began acquisitions, becoming a multinational with a presence in more than 190 markets, with a portfolio that now includes more than fifty brands.
Sources: AFP, APE-MPE