Campari pays US$20m for Appleton distribution rights15th February, 2013 by Becky Paskin
Campari America has bought the distribution rights for Appleton Estate in the US from Kobrand Corporation, in a deal worth US$20million.
Gruppo Campari, which acquired the Lascelles deMercado brand portfolio – including Appleton Estate, Coruba Rum and Wray & Nephew – in December last year, currently only owns the group’s distribution rights in Jamaica and the UK.
The deal will allow Campari to take control of the distribution of Appleton Estate in the US, with effect from 1 March.
Bob Kunze-Concewitz, CEO of Campari, said: “This is a key step in the integration process of the Appleton portfolio into our distribution network. It confirms our strong commitment to achieve a swift in-sourcing of the brands with the objective to exploit the brands’ full potential in the key US market.
“Owned distribution will enable greater focus on the acquired business and more efficient brand building activities. Moreover, it will allow us to further leverage our strong distribution capabilities as well as to entirely capture the brand contribution in the highly strategic US market”.
The move is thought to be the first of many as Campari seeks to own distribution rights for the portfolio in other key markets.