Under the deal, Campari has the option to buy the remaining 30% of the Kentucky-based producer of bourbon and rye whiskey in 2031.
The acquisition implies a current business value of $600 million, which makes it the Italian group’s second most significant acquisition after it acquired Grand Marnier in 2016.
In a statement, CEO Bob Knze-Concewitz said by adding the fast-growing super-premium Wilderness Trail brand they would further expand and premium the group’s bourbon offering, priming it to become Campari Group’s second major part after the aperitif portfolio.
He added that the acquisition allowed the group to significantly expand its production capacity and aging inventory to satisfy the future growth of Campari’s premium bourbons. Continue Reading...
