ITALY: Campari to continue acquiring in 2004
Campari has pegged €300m (US$362.3m) for further acquisitions. Following Monday's purchase of Barbero 1891 for €150m, the company is focusing on further spirits acquisitions next year.
In an interview with the daily MF, group chief executive Marco Perelli Cippo said he does not have "anything as hot" as Barbero lined up. However, Cippo, who is standing down in April, still hopes the Barbero purchase will not be his last deal.
The group announced that it had signed an agreement to purchase Barbero 1891, a wholly-owned subsidiary of Irish drinks maker Cantrell & Cochrane for €150m (US$180.2m) on Monday.
Expected pro-forma net turnover for fiscal year ending February 2004 for Barbero is approximately €55m, representing an increase of 10% on the previous year.
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