ITALY: S & M control for Campari
Italian spirits group, Campari, has acquired a controlling interest in the Sardinian wine company, Sella & Mosca.
Campari paid €68.2m ($59m) for 100% of the spirits group, Zedda Piras, which in turn owns a 67.6% stake in Sella & Mosca. Campari is also taking on €1.8m in debt.
Sella & Mosca is a well known international wine brand. The company owns some 500 hectares of vineyards in Sardinia and sold 6.6m bottles in 2001 with around 17% going to export markets.
S&M also owns 94% of the Qingdao Sella & Mosca Winery Co Ltd, a Chinese joint venture, and Domaine de la Margue, a French chateau.
The combined turnover of Zedda Piras and Sella & Mosca was put at around €30.7m for 2001, 34% from spirits and 66% from wine, with pre-tax profit of €3.8m.
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