Campari to Acquire Courvoisier Cognac in 1.2 Dollar Billion Deal
With a portfolio of more than fifty brands, this strategic move by Campari solidifies its position as a key player in the spirits industry.
The post Campari to Acquire Courvoisier Cognac in 1.2 Dollar Billion Deal appeared first on LUXUO.
Campari celebrates the start of 2024 with the largest acquisition in the Italian spirit maker?s history. The purveyor of exclusive liquor prepares to purchase Courvoisier Cognac House from US-Japanese spirits group Beam Suntory in a “once-in-a-lifetime opportunity to buy one of the big four maisons of cognac,” according to chief executive officer Bob Kunze-Concewitz.
Why Now"
The move comes as Campari plans to position itself as a serious contender against competing spirit heavyweights ? Diageo and Pernod Ricard while also strengthening Campari’s presence in the United States. The deal is expected to boost Campari’s net sales by approximately nine percent with an increase to earnings per share by two percent according to Reuters.
Read More: 2023: The Year of High-Value Deals, Mergers & Acquisitions
The Cognac Climate
This transaction comes at a precarious time for the cognac industry which has seen a 20 percent decrease in exports between 2022 and 2023 and a decline of up to 40 percent in the United States. Similarly, recent years have also seen Courvoisier suffer a weakening demand, primarily amongst its Unites States consumers particularly when compared to the company&...
The post Campari to Acquire Courvoisier Cognac in 1.2 Dollar Billion Deal appeared first on LUXUO.
Campari celebrates the start of 2024 with the largest acquisition in the Italian spirit maker?s history. The purveyor of exclusive liquor prepares to purchase Courvoisier Cognac House from US-Japanese spirits group Beam Suntory in a “once-in-a-lifetime opportunity to buy one of the big four maisons of cognac,” according to chief executive officer Bob Kunze-Concewitz.
Why Now"
The move comes as Campari plans to position itself as a serious contender against competing spirit heavyweights ? Diageo and Pernod Ricard while also strengthening Campari’s presence in the United States. The deal is expected to boost Campari’s net sales by approximately nine percent with an increase to earnings per share by two percent according to Reuters.
Read More: 2023: The Year of High-Value Deals, Mergers & Acquisitions
The Cognac Climate
This transaction comes at a precarious time for the cognac industry which has seen a 20 percent decrease in exports between 2022 and 2023 and a decline of up to 40 percent in the United States. Similarly, recent years have also seen Courvoisier suffer a weakening demand, primarily amongst its Unites States consumers particularly when compared to the company&...
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