Campari to acquire 80% stake in Lascelles deMercado

Gruppo Campari is set to acquire a controlling stake in Lascelles deMercado (LdM), which will see the Italian company enter the rum category with brands like Appleton Estate, Wray & Nephew and Coruba.

Campari has reached an agreement with holders of an 81.4% stake in the Jamaican company LdM to acquire the business, which at closing will primarily consist of LdM’s spirits business. The Jamaican Takeover Code stipulates that the company must make a formal tender offer to the LdM board and public shareholders to acquire all outstanding ordinary and preference shares.

The acquisition includes agriculture facilities, including sugarcane fields, two distilleries, one sugar factory, nine farms and 18 warehouses, as well as a complete inventory of aged rum.

The total purchase price for 100% of LdM’s share capital is US$414,754,200, making it the third largest acquisition in Gruppo Campari’s history, having already acquired Wild Turkey and Skyy Spirits.