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Campari Group readies French distribution purchase

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Campari Group has lined up the latest acquisition in its ongoing shopping spree, this time in France.

Campari Group has been in acquisitive mood in recent months

Campari Group has been in acquisitive mood in recent months

The company confirmed earlier today the commencement of "exclusive negotiations" with Baron Philippe de Rothschild to buy the former's distributor in the country. The unit, Baron Philippe de Rothschild France Distribution, is also the subject of a put option secured by Campari that coincides with the talks.

The put option means Campari has the exclusive right to buy while negotiations are ongoing.

The move comes almost exactly a month after the Milan-headquartered company agreed to spend US$35.7m on 51% stakes in both Licorera Ancho Reyes and Casa Montelobos in Mexico. The former owns poblano-chiles-based liqueur brand Ancho Reyes while the Montelobos buy will mark Campari's entry into the mezcal category.

Earlier in the year, Campari purchased rhum agricole producer Bellonnie & Bourdillon Successeurs for around $66m.

The group said today that the French distribution acquisition is "subject to the completion of the appropriate social processes and to customary antitrust approval". Further details, including the price, will be provided once the transaction has closed.

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