Campari acquires Pernod Ricard's Wild Turkey whiskey brand
Total investment in US acquisitions amounts to USD 1.1 billion
Gruppo Campari has signed an agreement to acquire Pernod Ricard's bourbon whiskey brand Wild Turkey for $575m.
The acquired business includes the Wild Turkey brands, American Honey liqueur, distillery facilities in Kentucky, US, and aged liquid and finished product inventory. The transaction, subject to antitrust approvals, is expected to close prior to June 30, 2009 and the consideration will be paid for in cash.
This deal is the fourth acquisition concluded by Campari in the US, after SKYY Vodka (2002), Cabo Wabo (2007) and X-Rated (2007). With Wild Turkey, the total investment by Campari in US acquisitions amounts to USD 1.1 billion.
In addition, the acquisition brings Wild Turkey American Honey, a honey and bourbon based liqueur, a new entry into the premium US cordial category and a substantial growth opportunity.
Bob Kunze-Concewitz, chief executive officer of Gruppo Campari, said: With Wild Turkey, Campari adds a brand of strategic relevance to its portfolio and further enhances its premium offering. This acquisition is another key step in the building of a leading player in the global spirits industry. In addition, Campari expands its presence in key international markets such as Australia, where the acquisition provides the foundation for establishing its own distribution platform, and Japan.
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