ITALY: Campari buys up Skyy Spirits shares
Campari said today (2 November) that it had paid US$62m for an 11% stake in Skyy Spirits after gaining an option to buy the shares four years ago.
Campari CEO Enzo Visone said the purchase was a sign of the company's "strong commitment" to the US market, where Skyy Spirits handles a number of Campari-owned and third-party brands.
The San Francisco-based company owns premium vodka brand Skyy, which sells around 2.4m cases a year. Skyy Spirits also distributes brands including Diageo's 1800 Tequila and C&C International's Tullamore Dew Irish whiskey.
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