Campari Buys Controlling Stake in Appleton Rum Owner
Groupo Campari has paid $145 million to acquire 81.4% ownership in Lascelles deMercado & Co. Limited, a Kingston, Jamaica-based company that owns rum brands including Appleton Estate, Appleton Special/White, Wray & Nephew and Coruba.
Under the deal, expected to be completed in Q4, Campari will also acquire the company's upstream supply chain and its local consumer products
Lascelles had pro-forma sales of $265.4 million, and EBITDA of $24.2 million, in the 12 months ending June 30.
The acquisition in the fast-growing rum category is another step in Campari's plan to become a leading global spirits players. Campari said it will develop its critical mass in key international Appleton markets, including the U.S., Canada and Mexico, as the basis for future international growth.