US: Gruppo Campari completes US spirits purchase
Gruppo Campari has acquired the portfolio of spirits company X-Rated in the US.
The Italian group confirmed today (19 July) that it has bought X-Rated Fusion Liqueur, Jean-Marc XO luxury vodka and X-Rated ultra premium vodka for a cash sum of US$40m. The X-Rated portfolio, formerly owned by Jean-Marc Daucourt and Todd Martin, the former Allied Domecq North America president, is currently distributed in the US by spirits company Daucourt Martin Imports.
Launched in 2004, X-Rated reported sales volumes last year of 70,000 nine-litre cases overall.
As part of the deal, a price adjustment will be paid in the next three years based on the incremental sales volume performance over the same period. The transaction is anticipated to close next month.
"Following the recently announced Cabo Wabo Tequila transaction, X-Rated is yet another strategic acquisition with high upside for Gruppo Campari and contributes to further strengthen our presence, through our subsidiary Skyy Spirits, in the US, a crucial market in the group's international expansion strategy," said Bob Kunze-Concewitz, CEO of Campari.
X-Rated Fusion Liqueur is a mix of French vodka and blood oranges from Provence, fused with mango and passion fruit. The drink is particularly popular among upscale legal drinking age women, Campari noted. Jean-Marc XO Vodka, meanwhile, is made from four different types of French wheat and distilled nine times.
X-Rated Vodkais a small batch import from France made from delicate French wheat and a hint of Baies Roses (roseberry grain).
"Skyy Spirits and Gruppo Campari will take our cutting edge spirits brands to new heights" said Todd Martin, CEO of Daucourt Martin Imports. "They have an outstanding track record of building stylish brands worldwide."
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