Grand Marnier's parent company is set to be acquired by Gruppo Campari, strengthening an already very strong liqueur portfolio. Campari will also gain exclusive worldwide distribution of the Grand Marnier spirits portfolio. The deal values Société des Produits Marnier Lapostolle (SPML) at €684m.
The agreement means that Gruppo Campari will acquire a controlling stake of SPML via a tender offer on the French Stock Exchange. The distribution agreement comes into effect on 1 July this year, effective until 31 December 2021, after which it can be renewed for five year periods.
‘We are delighted to consolidate this alliance between the SPML controlling family shareholders and Gruppo Campari,' said Bob Kunze-Concewitz, Campari CEO. 'Grand Marnier is a French icon, with a rich 150-year history for which we have profound respect.
'This acquisition represents a perfect fit with our external growth strategy in terms of brand profile, distribution and financial framework. With Grand Marnier, we add a premium and distinctive brand to our Global Priorities portfolio [also including Campari, Aperol, Wild Turkey and more], thus driving richer product mix, and we further consolidate our position as the leading purveyor of premium liqueurs and bitter specialties worldwide.'
Kunze-Concewitz added: 'Thanks to its exceptional quality and international recognition, Grand Marnier enhances our exposure to the premium on-trade, across all markets, to the benefit of the Group’s overall portfolio, as well as to Global Travel Retail. In particular, as a key ingredient in many classic cocktails and a must have premium brand in classic cocktail bars, Grand Marnier strengthens our quest to further capitalize on the revival of classic cocktails, particularly in the US.'