A rum deal
Gruppo Campari has reached an agreement with Lascelles deMercado & Co, producers of the Appleton (estate pictured), Wray & Nephew and Coruba rum brands. The deal sees the Italian company taking an 81.4% stake in the Jamaican-based business and making its first foray into the realm of rum.
This follows deals with Sagatiba, Skyy and Wild Turkey and is set to elevate Gruppo Campari's international standing as a major player in the drinks market.
Bob Kunze-Concewitz, CEO of Gruppo Campari commented: '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. When completed, this acquisition will give a further boost to the internationalisation of Gruppo Campari, further expanding our business outside of Italy, as well as strengthening our largest and most profitable business, the spirits segment.’
News item from Imbibe.com, 07-09-2012