In a Bloomberg Report today by Sarah Shannon it has been reported that Campari has acquired a controlling interest in Lascelles DeMercado in it's third largest deal.
Davide Campari-Milano SpA (CPR) said it will purchase Lascelles
deMercado & Co., the Jamaican maker of Appleton Rum, in a deal worth $414.8
million to hasten the Italian distiller's push into overseas markets.
Campari agreed to buy a controlling 81.4 percent stake and will make a
formal tender offer for all the shares, the Milan- based company said today in
a statement.
The acquisition is the third-largest by Campari, and marks the company's
entry into the rum category. The distiller said the deal will give it a
market-leading position in Jamaica and provide growth potential in the U.S.,
Canada and Mexico. Lascelles deMercado's brands include Wray & Nephew and
Coruba.
"The acquisition of a family of premium rum brands will allow
Campari to leverage its growing portfolio of premium vodka, bourbon and
tequila, while allowing it to boost sales and efficiencies of its
network," Mauro Baragiola, an analyst at Citigroup Inc. in Milan, wrote
today in a note.
This is an interesting acquisition for Campari, and it appears that it is trying to expand its global footprint and open up new markets for the company in the rum arena. This is a deal that the results are going to be worth watching in the near future. ;o)
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