Feb. 15 – Davide Campari-Milano SpA, through its wholly owned Campari America subsidiary, announces that it has reached an agreement with Kobrand Corporation, under which Campari America gains the distribution and marketing rights of the Appleton rum portfolio in the United States, starting March 1. The rum portfolio, which includes Appleton, Wray & Nephew and Coruba, was acquired by the Campari Group in December 2012 as part of the Lascelles deMercado & Co. Limited acquisition. Currently, the direct distribution by the Campari Group of the Jamaican brand is limited to Jamaica and the United Kingdom; however, Campari will benefit significantly from the brand’s integration in other distribution networks. In fact, Campari has agreed to pay a sum of $20 million to Kobrand Corporation to buy back the distribution rights for Appleton rum in the United States. “This is a key step in the integration process of the Appleton portfolio in our distribution network – said Bob Kunze-Concewitz, Chief Executive Officer – It also confirms our strong commitment to achieve rapid brand internalization with the aim to exploit its full potential in the U.S. market. Direct distribution will allow for a greater focus on the business and the assets acquired guarantee more effective brand-building. In addition, it will allow us to further leverage our distribution capabilities and at the same time fully consolidate the profitability of the brand in the highly strategic US market.”
