Distell sells Bisquit Cognac brand to Campari
Distell has agreed to sell its Bisquit Dubouche et Ci Cognac business to Campari Group for €52.5m.
The South African premium alcohol producer today announced it has entered into a definitive agreement to sell Bisquit, with Campari set to acquire all the shares in the business, as well as existing stock, maturing inventory, the trademarks and production facilities, which consists of warehouses, blending cellars and a bottling plant.
The deal, which is expected to close during the first quarter of 2018, had been driven by Distell’s "strategic intent" to focus on a core portfolio of categories, brands and assets that supported the company’s growth ambitions, said MD, Richard Rushton.
“The sale will ensure the assets within our portfolio align with our strategy and generate long-term shareholder value and will allow us to focus our efforts on accelerating our growth in key product categories and markets where we believe we can deliver more attractive returns and deliver on our growth aspirations,” he said.
The brand remained “strong and well-positioned” for long-term growth, he added.
The acquisition of Bisquit marks the first Cognac to join the Campari portfolio, which includes Cognac containing liqueur brand Grand Marnier - this was acquired by Campari last year.
Established in 1819, the Bisquit brand comprises a classic range of Cognacs, namely Bisquit V.S. Classique, Bisquit V.S.O.P., Bisquit Prestige and Bisquit X.O., together with rare collections and limited editions.
Bisquit is forecasted to achieve pro-forma net sales in the region of €9 million in FY2018. Its key markets include South Africa, Belgium and Switzerland.
Keywords:
Search
56-58 Church Walk, Burgess Hill, West Sussex, RH15 9AN
Registered in England No. 6646125. VAT No. 938 4452 95
