ITALY: Gruppo Campari chief reaffirms acquisitions plan - report
Geography more important than products in Gruppo Campari M&A strategy
Gruppo Campari's CEO has reaffirmed that the group is on the lookout for acquisitions, according to a report.
Bob Kunze-Concewitz was quoted in an interview with the Wall Street Journal this week as saying that the Italian drinks makers is open to deals in all of the 13 countries in which it operates.
Previosuly, Kunze-Concewitz has said that Campari would consider acquisitions in the EUR300m-EUR400m range.
His latest comments coincided with the group's celebration of ten years as a listed company in Italy. He told the WSJ that the company is more interested in acquiring brands in key markets, rather than entire companies.
One analyst told just-drinks today (8 July) that Campari has consistently said that its acquisitions strategy is not about portfolio gaps, but about "increasing scale in existing territories and gaining distribution scale".
In the first quarter of 2011, Campari reported net sales up by 15% to EUR268.4m, while net profits rose by 16.6% to EUR50.5m.
Gruppo Campari will follow William Grant & Sons and Marnier-Lapostolle out of the three companies' International Marques distribution venture in the Netherlands, having announced a switch to Brand New...
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