(Sept. 3) – Gruppo Campari announces it has signed an agreement with members of the CL Financial Limited group of companies (CLF) to acquire an 81.4% ownership in Lascelles deMercado & Co. Limited (LdM), a publicly traded holding company, based in Kingston, Jamaica. Through the acquisition of LdM, Campari enters the attractive and growing rum category, which combines tradition, heritage and authenticity with dynamism and vibrancy. Today the rum category is expanding significantly with premiumisation, innovation and a broad international appeal, raising consumers demand for aged, spiced and high-proof rums all over the world. Campari will develop its critical mass in key international Appleton markets – the US, Canada, Mexico, and acquire a leading franchise in Jamaica, creating the foundations for future international growth. It will also leverage its strong distribution capabilities, enhanced following the Group’s recent investment in its route-to-market. Campari’s acquisition will be made through a formal tender offer to the LdM board and public shareholders to acquire all outstanding ordinary and preference shares pursuant to the Jamaican Takeover Code and applicable requirements. Pursuant to the Agreement, at the time of closing, LdM will comprise the Spirits business, led by a world-renowned, leading Jamaican rum range, including Appleton Estate, Appleton Special / White, Wray & Nephew and Coruba, the related upstream supply chain, as well as its successful local consumer products distribution business. This transaction marks the third largest acquisition in Campari’s history and positions the Group as a leading producer of premium rum globally. (red)
