Campari acquires Lascelles

Janet Silvera, Senior Gleaner Writer

WESTERN BUREAU:
Campari has signed an agreement with Lascelles deMercardo Company Limited (LdM), to purchase the 81.4 per cent of the rum maker's shares at US$414.7 million.

In a press release this morning, Campari stated that the acquisition entails the award-winning Appleton Estate, Appleton Special/White, Wray & Nephew and Coruba brands as well as substantial aging inventory to support future expansion.

This is third largest acquisition in Campari’s history following the successful acquisitions of Wild Turkey and Skyy Spirits, says the Italian company.

It says the move will significantly grow the business outside of Italy, while strengthening its largest and most profitable business, the Spirits segment.

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.

"We are once again leveraging our acquisition framework in a very disciplined and consistent manner for future growth," says Bob Kunze-Concewitz, Chief Executive Officer, Campari.

"The addition of the Appleton, Wray & Nephew and Coruba rum brands as well as a portfolio of local Jamaican brands will help us build our critical mass further in key North American markets, provide a leading market position in Jamaica, a major destination in the Caribbean, whilst laying the foundations for future international growth across all major usage occasions of the growing and premiumising rum category."

janet.silvera@gleanerjm.com