|SOUTH AFRICA – Campari Group has agreed to buy Bisquit Dubouche et Cie (Bisquit) from South Africa’s Distell for € 52.5 million to enhance focus on core portfolio to further growth ambitions.
The transaction involved acquisition of all the shares in Bisquit, as well as existing stock, maturing inventory, the trademarks as well as production facilities consisting of warehouses, blending cellars and a bottling plant.
“Thanks to the super premium brand Bisquit cognac and its strong heritage, we further enhance our premium brands portfolio, driving a richer product mix,” Campari CEO Bob Kunze-Concewitz said.
Bisquit brand includes range of cognacs, namely Bisquit V.S. Classique, Bisquit V.S.O.P., Bisquit Prestige and Bisquit X.O.
Since its establishment in 1819 by Alexandre Bisquit, the Bisquit Cognac brand has excelled owing to its unique distillation process that allows a superior concentration of aromas and smoothness.
The acquisition hopes to increase the company’s growth potential in the United States and China, two markets where sales of premium cognac are on the rise.
It’s also expected to expand market coverage in the current key markets including South Africa, Belgium and Switzerland.
Richard Rushton, Distell’s Managing Director said the Bisquit brand remained strong and well positioned for long-term growth.
“Distell’s decision to sell the business is driven by our strategic intent to focus on a core portfolio of categories, brands and assets that support the company’s growth ambitions.
“The sale will ensure the assets within our portfolio align with our strategy and generate long-term shareholder value.
The disposal of Bisquit will allow us to focus our efforts on accelerating our growth in key product categories and markets where we believe we can deliver more attractive returns and deliver on our growth aspirations,” said Rushton.
The deal is expected to close during the first quarter of 2018.
More News Articles
Honor pledge to support local sugar industry, South African cane growers tell governmentSOUTH AFRICA- South African Canegrowers Association (SA Canegrowers) have...
Boon for tea farmers as tea agency announces US$298M bonus payoutKENYA-The Kenya Tea Development Agency Holdings Limited (KTDA) has...
EABL achieves remarkable 55% reduction in carbon emissions through renewable energy investmentsKENYA – East African Breweries PLC (EABL), a regional...