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Campari Acquires Jamaican Rum Maker

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Campari Acquires Jamaican Rum Maker

Campari Acquires Jamaican Rum Maker
September 05
11:41 2012

Italian drinks group Campari is acquiring Lascelles de Mercado, a rum producer based in Kingston, Jamaica, for $414.8 million (Eur330 million). LdM produces leading Jamaican rums, including Appleton Estate, Appleton Special/White, Wray & Nephew and Coruba, and also owns a successful local consumer products distribution business.

This transaction marks the third largest acquisition in Campari’s history and positions the group as a leading producer of premium rum globally.

In the full year ended September 30, 2011, the acquired business achieved total pro-forma sales of $265.4 million and a pro-forma EBITDA of $24.2 million. In the last twelve months ending June 30, 2012 LTM achieved total pro-forma sales of $277.0 million (Eur208 million) and a pro-forma EBITDA of $27.7 million.

Bob Kunze-Concewitz, chief executive of Campari, comments: “The addition of the Appleton, Wray & Nephew and Coruba rum brands as well as a portfolio of local Jamaican brands will help us build our critical mass further in key North American markets, provide a leading market position in Jamaica, a major destination in the Caribbean, whilst laying the foundations for future international growth across all major usage occasions of the growing and premiumising rum category. When completed, this acquisition will give a further boost to the internationalisation of Gruppo Campari, further expanding our business outside of Italy, as well as strengthening our largest and most profitable business, the Spirits segment.’

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