ITALY: Campari ponders spirits acquisitions

By just-drinks.com editorial team | 18 June 2008

Italian drinks group Campari is looking at buying opportunities in the spirits sector, a spokesperson said today (18 June), fuelling reports that it is monitoring the possible sale of Russia's Stolinchnaya vodka.

Earlier this week, The Financial Times reported that Russian company SPI had hired Lehman Brothers to find a buyer for the Stolichnaya vodka brand.

"As regards Stolichnaya, we have seen the reports in the media," a Campari spokeswoman said.

"Our sector is going through a period of change. Therefore we are curious to see the developments, confirming our interest in examining new opportunities, above all in spirits," she said.

It is thought that Stolichnaya could fetch as much as US$3bn in an auction.

Stolichnaya is currently distributed internationally by French drinks group Pernod Ricard, but that deal is due to come to an end following Pernod's acquisition of Swedish drinks company Vin & Sprit, which owns rival brand Absolut.

One stumbling block towards any successful sale is the ongoing dispute between SPI, which owns the rights to Stolichnaya on the international market and the Russian government which holds claim to the brand in Russia.

Sectors: Spirits

Companies: Campari, Stolichnaya, Pernod, Ricard, Absolut