Gruppo Campari stays quiet over Irish Mist sale report

Gruppo Campari is remaining tight-lipped over a report that states the Italian drinks group is considering offloading its Irish Mist Whiskey and Carolans Irish Cream brands.

Citing sources “close to the matter”, Bloomberg yesterday reported that Campari is exploring the potential of selling the brands and is working with advisers Perella Weinberg Partners.

A spokesperson for Gruppo Campari said the group does not comment on “market rumours”.

Originally available as a honeyed whiskey liqueur dating back to 1947, Irish Mist is a blend of four-year-old whiskeys that have been triple distilled and aged in American oak casks. The whiskey’s launch in 2014 marked Campari’s entry into the fast-growing Irish whiskey category.

Caorlans Irish Cream was first developed in 1978 and was previously reported to be the world’s second best-selling Irish cream liqueur.

Campari acquired both brands from William Grant & Sons in 2010.

Earlier this month, Gruppo Campari’s CEO Bob Kunze-Concewitz told The Spirits Business that the group has the “financial capability” to make further acquisitions.

In February this year, Campari accelerated its planned takeover of Bulldog Gin and acquired the super-premium brand for US$58.4 million.

Gruppo Campari saw its full-year 2016/17 sales climb 4.2% to reach €1.73 billion, driven by its recent acquisition of Grand Marnier.