Campari Acquires a Controlling Stake in Lascelles deMercado, Becoming a Key Player in the Attractive Rum Category With the Appleton Estate, Appleton Special / White, Wray & Nephew and Coruba Brands
MILAN, Sept. 3, 2012 /PRNewswire/ —
Highlights
Agreement reached with holders of 81.4% stake in Jamaican company Lascelles deMercado & Co. Limited (‘LdM’). At closing the entity will primarily consist of LdM’s spirits business
Campari’s acquisition will be made through a formal tender offer to the LdM board and public shareholders to acquire all outstanding ordinary and preference shares pursuant to the Jamaican Takeover Code and applicable requirements
Gruppo Campari (the ‘Group’ or ‘Campari’) enters the large and attractive rum category, adding a portfolio of leading premium brands with a unique and distinctive Jamaican heritage
The acquisition entails the award winning Appleton Estate, Appleton Special / White, Wray & Nephew and Coruba brands as well as substantial ageing inventory to support future expansion
Campari enhances its critical mass in key Americas markets – including the US, Canada, Mexico, the Caribbean, and acquires a leading market position in Jamaica, creating the foundations for future international growth
This transaction further boosts Campari’s internationalisation, significantly growing the business outside of Italy, whilst strengthening its largest and most profitable business, the Spirits segment
Total purchase price for 100% of LdM’s share capital is USD 414,754,200 (or approximately € 330 million at current exchange rate) on a cash free / debt free basis. The deal is EPS accretive in year 1
Third largest acquisition in Campari’s history following the successful acquisitions of Wild Turkey and Skyy Spirits
Campari continues to leverage its acquisition framework in a very disciplined and consistent manner for future growth
Completion of the CLF stake acquisition and formal tender offer is expected in Q4 2012
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