ITALY: Davide Campari-Milano sees V&S opportunities - report
Davide Campari-Milano is hoping to feed off scraps from the potential sale of Vin & Sprit, according to a recent interview.
Speaking to Corriere della Serra over the weekend, the drinks group's CEO, Bob Kunze-Concewitz said that, whilst buying the Absolut vodka brand from the Swedish government is out of its reach, the possible sale of the state-owned company could present some appealing opportunities.
When asked if Campari would be interested in the sales process, Kunze-Concewitz told the paper: "No, this is a deal for big players. But it could represent a great opportunity also for us. It shuffles the cards and different scenarios could emerge."
Kunze-Concewitz also said that the main contenders, which include Diageo, Pernod Ricard, Bacardi and Fortune Brands, may need to sell one of their current brands to avoid anti-trust issues. Alternatively the "big players" may need to sell brands to raise funds or may even require local distributors. "That is how we could enter the scene," he added.
Earlier this month, Gruppo Campari, of which Davide Campari-Milano is the parent company, posted a 7.9% lift in operating profit for the six months to the end of June, hitting EUR92.7m (US$127.8m) for the period. Net sales for the half-year were up by 5.4% to EUR40.6m.
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