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Gruppo Campari to Acquire Grand Marnier Owner

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Gruppo Campari to Acquire Grand Marnier Owner

Gruppo Campari to Acquire Grand Marnier Owner
March 17
09:16 2016

Gruppo Campari has agreed to acquire a controlling stake in SPML, the French spirits company which owns the Grand Marnier brand. The deal has an enterprise value €652 million (for 100% of SPML). Gruppo Campari has also entered into an agreement with SPML for the worldwide exclusive distribution of the Grand Marnier spirits portfolio.

Headquartered in Paris. SPML is listed on Euronext (Paris) and has a market capitalisation of €427 million as of March 11, 2016. Its main bottling and packaging site is located in Normandy, France.

In fiscal year ending December 31, 2015, SPML achieved a consolidated annual turnover of €151.7 million and a consolidated EBITDA of €30.8 million.

Bob Kunze-Concewitz, chief executive of Gruppo Campari.

Bob Kunze-Concewitz, chief executive of Gruppo Campari.

The Grand Marnier spirit portfolio is SPML’s core business, accounting for about 85% of sales. The Grand Marnier portfolio includes Grand Marnier Cordon Rouge, Cherry Marnier, Louis Alexandre, Cuvée du Centenaire, Cuvée du Cent Cinquantenaire and Quintessence.

SPML generates over 90% of its sales outside France. Key markets are the US, accounting for around 60%, Germany, Canada and France. SPML brands are currently distributed in over 150 countries through third party distributors.

Bob Kunze-Concewitz, chief executive of Gruppo Campari, comments: “This acquisition represents a perfect fit with our external growth strategy in terms of brand profile, distribution and financial framework. With Grand Marnier, we add a premium and distinctive brand to our Global Priorities portfolio, thus driving richer product mix, and we further consolidate our position as the leading purveyor of premium liqueurs and bitter specialties worldwide. In terms of route-to-market, Grand Marnier is a unique opportunity to continue leveraging our enhanced international distribution capabilities benefiting from a perfect fit of the distribution reach of the acquired business.”

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