ITALY: Campari breaks off Eckes talks
"Since no agreement has been reached with the sellers on the valuation of the business, the negotiation was ended," the Italian group said.
Campari had been considered a possible buyer for the Stock alcohol businesses, particularly as the Italian company renowned for its eponymous aperitif has been in an acquisitive phase. Last year, the company acquired a 50% stake in the US vodka producer, Skyy Spirits, and the Italian spirits company Zedda Piras, which owns 67.6% of the Sardinian wine group, Sella & Mosca.
Eckes announced in October that it was planning to sell off its alcohol division, which has operations in Italy, the Czech Republic and Austria, in order to focus on soft drinks.
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Luca Cordero di Montezemolo, an independent director on the Davide Campari board, has handed in his resignation to the Italian company....
Post-menopausal women who consume even moderate amounts of alcohol may face an increased risk of breast cancer, according to a comprehensive US study....
The Campari Group has seen a modest growth in its first quarter sales, although the performance led to a more impressive increase in other profitability indicators....
Alcohol intake amongst young female adults in the UK continues to rise and shows no signs of abating, according to a recent report....
Cobra Beer has launched an alcohol-free beer in South Africa, the UK and in its European and Asian export markets....
Citigroup Smith Barney has initiated coverage of Davide Campari-Milano....
Skyy Spirits, LLC, announced yesterday that former vice-president of sales Gerard (Gerry) Ruvo has accepted the position of president and CEO....
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