Gruppo Campari delists Grand Marnier parent

Davide Campari-Milano has delisted Grand Marnier’s parent company from Euronext Paris as it continues its friendly takeover of the firm.

Gruppo Campari has delisted Grand Marnier’s parent company as the friendly takeover progresses

Campari launched a squeeze out procedure to acquire the remaining Société des Produits Marnier Lapostolle (SPML) shares today (14 July), having crossed the 95% threshold of the share capital and voting rights along with family shareholders.

As a result, SPML is now delisted from the Euronext stock exchange with remaining shareholders paid the offer price of €8,050 per share, minus the final 2015 dividend.

Gruppo Campari reached an agreement to take over SPML in March 2015, and expects to fully acquire the business from the controlling family by 2021.

The Grand Marnier brand will join Gruppo Campari’s ‘Global Priorities’ portfolio alongside Campari, Aperol, Skyy, Wild Turkey and the Jamaican rums.

“We are delighted to consolidate this alliance between the SPML controlling family shareholders and Gruppo Campari,” said Bob Kunze-Concewitz, Gruppo Campari CEO, at the time the acquisition was announced.

“Grand Marnier is a French icon, with a rich 150-year history for which we have profound respect.

“This acquisition represents a perfect fit with our external growth strategy in terms of brand profile, distribution and financial framework.”