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
To view the Multimedia News Release, please click:
http://www.multivu.com/mnr/56588-gruppo-campari
