News Brief

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 distribution business.

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. 

Tags: alcohol, m&a
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