Gruppo Campari: ‘There will be no bargain sales’

Bob Kunze-Concewitz, Gruppo Campari CEO, has said there will be “no bargain sales” as the company continues to divest its non-core spirits portfolio.

Gruppo Campari Bob Kunze-Concewitz says there will be ‘no bargain sales’ as he optimises the product portfolio

Speaking exclusively to The Spirits Business, Kunze-Concewitz reiterated the company’s focus on spirits. “We’ve been very clear first of all that our core business is spirits, and premium spirits, and that is where our acquisition money is going.”

Having sold its non-core pharmaceutical and agrochemical business in Jamaica last year and its Casoni Fabbricazione Liquori business earlier in 2016, Kunze-Concewitz said his business will continue to sharpen its focus and and optimise its product portfolio with more divestments.

“We’ve been quite transparent that the rest of the still wine business as well as the carbonated soft drinks business is not strategic. But as we are disciplined in making acquisitions, we’re also disciplined in our divestments, so there will be no bargain sales.”

Earlier this month Gruppo Campari delisted Grand Marnier’s parent company Société des Produits Marnier Lapostolle from stock exchange Euronext Paris as it progressed its friendly takeover of the firm.

See the August issue of The Spirits Business for the full interview with Bob Kunze-Concewitz.