Campari buys majority stake in Montelobos mezcal
Italy’s Campari Group has acquired a controlling stake in Montelobos mezcal and Ancho Reyes liqueur for US$35.7 million.
The Wild Turkey owner has purchased a 51% share in Licorera Ancho Reyes and Casa Montelobos, producers of Mexican spirits brands Montelobos mezcal and Ancho Reyes.
The deal, which is expected to close by the end of 2019, includes the brands, intellectual property and each company’s related inventories.
Ancho Reyes is a liqueur crafted from ancho and poblano chiles cultivated in the volcano-enriched soils of Puebla, Mexico. Montelobos is an artisanal mezcal produced by Mexican distiller Iván Saldaña.
Bob Kunze-Concewitz, chief executive officer at Campari Group, said: “We are very pleased to enrich our offering with two super-premium brands, Ancho Reyes spicy liqueur and Montelobos mezcal; they give us the opportunity to add a unique and versatile liqueur with a strong international potential, riding the very positive mixology trend, as well as to enter the premium and high-performing mezcal category.
“We acquire two truly handcrafted gems and we continue to premiumise our portfolio with a particular focus on the key US market, enhancing our exposure to the strategic premium on-premise distribution channel.”
As part of the acquisition, Campari Group has leveraged a fully integrated supply chain for the two brands through leased production and bottling facilities.
Agave used to produce Montelobos mezcal is sourced through third-party agreements with major local growers, these agreements will be managed in continuity with past arrangements.
In September, the Italian spirits group signed an agreement with Chevrillon Group to buy French firm Rhumantilles, owner of the Trois Rivières and Maison La Mauny agricole rum brands.