Campari drink Grand Marnier: for once Italy buys and does not sell – Intelligonews

Hands up who on hearing the news he then re-read it a second time. Yes, you read that right. This time is not an Italian brand to change ownership, but to acquire a new . To widen, just to put it in simple words. This has already seen a previous recent news anything but similar.

The Campari Group has reached an agreement with members of the controlling shareholder of SPML Family (Societe des Produits Marnier Lapostolle) to acquire control of the company through a ‘tender offer to be launched on the regulated French stock market.

in particular, as well it explains the’ Adnkronos , the agreement consists of an immediate acquisition of initial actions , corresponding to 17.19% in full ownership, 1.06% and 1.54% in the bare ownership in usfrutto of SPML capital transactions with the blocks with some members of the controlling family shareholders; agreement to allow the acquisition by 2021, through put and call options, of all the remaining shares held by the members of the controlling family shareholders, corresponding to 26.60% in full ownership and to 2.24% in bare ownership; launch of a takeover bid on the remaining shares of SPML at a price of 8.050 euro per share in cash, (which implies a premium of 60.4% over the current share price), plus an earn-out related to the potential sale of a real estate property in St. Jean Cap Ferrat (France) of SPML properties.

Excluding the effects of the sale of real estate properties and related earn-out, the total implied Equity Value for 100% of SPML will be 684 million , while the total implied enterprise value for 100% of SPML will be 652 million.

Simultaneously, the Campari group enters into an exclusive agreement with SPML for distribution of spirits brands Grand Marnier world . The distribution agreement is effective July 1, 2016 and will remain valid for a period of five and a half years until 31 December 2021. The initial agreement will be renewable for additional periods of five years after 2021.

‘This is our twenty-fifth acquisition and greater, has a global significance and will have a great impact on our portfolio, because it’s an iconic brand with a tremendous force especially in the US’. Bob Kunze-Concewitz , CEO of Campari, discusses perspectives and background operation that brings the Italian group to add to its ‘handheld’s’ Grand Marnier and to make the United States its first market. “ This transaction fits ideally into our external growth strategy in terms of brand profile, both distribution and financial structure,” he added.