Campari's Latest Acquisition Focuses On High Gorwth US But Conflicts With Our Emerging Market View

Italian spirits producer Campari has announced the purchase of three liqueur brands from British sprits company William Grant & Sons. Campari will pay EUR129mn for the Irish cream liqueur Carolons, Italian hazelnut liqueur Frangelico and the honey and whiskey liqueur Irish Mist. The firm said the deal will strengthen its volumes in the key US market and also improve its exposure in Australia, Russia, Canada, Spain and the UK. The acquired brands are expected to contribute annual revenues of EUR50mn and BMI sees the acquisition as in keeping with the firm's expansion strategy, which has recently focused on building momentum

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