Campari’s Grand Marnier acquisition ‘on track’

Gruppo Campari is “on-track” to acquire the parent company of Grand Marnier liqueur after the Italian drinks group opened its official tender offer.

Gruppo Campari has launched its tender offer to acquire the parent company of Grand Marnier

In March this year, Campari reached an agreement to take over Société des Produits Marnier Lapostolle (SPML), immediately acquiring 17.19% of the group, plus a further 2.6% from controlling family shareholders.

Campari, which expects to fully acquire SPML from the controlling family by 2021, will also be appointed the exclusive global distributor of the Grand Marnier spirits portfolio upon completion of the initial deal.

“We are pleased to announce that the acquisition of Grand Marnier is on track as we received the approval from the US antitrust authorities to proceed,” said Bob Kunze-Concewitz, CEO of Gruppo Campari.

“[Gruppo Campari’s] friendly tender offer on SPML shares opened for a period of 25 trading days. We believe that this is an attractive offer which fully reflects the quality and the potential of this company and we are therefore confident that it will be well received by the shareholders of SPML.”

The offer, which sets a share price at €8,050 per share, will remain open until 21 June 2016.

“We are confident that Gruppo Campari is the best partner to develop and fully exploit the potential of the Grand Marnier brand worldwide,” said François de Gasperis, chairman of SPML’s Directoire.

Once the deal is completed, Grand Marnier will be added to Gruppo Campari’s ‘Global Priorities’ portfolio, alongside Campari, Aperol, Skyy, Wild Turkey and the Jamaican rums.