Log in
Log in
Or log in with
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. Davide Campari-Milano N.V.
  6. News
  7. Summary
    CPR   NL0015435975


Delayed Borsa Italiana  -  11:35 2022-12-08 am EST
9.922 EUR   -1.08%
12/01LVMH Unit, Campari Take Full Ownership Of Online Wine Seller Tannico
12/01Campari, LVMH's Moët Hennessy buy 100% of Tannico
12/01LVMH Moët Hennessy - Louis Vuitton, Société Européenne and Davide Campari-Milano N.V. acquired an unknown majority stake in Tannico Srl.
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Davide Campari Milano : Gruppo Campari sells Carolans and Irish Mist brands for USD 165.0 million to Heaven Hill Brands

07/24/2017 | 05:29am EST
Gruppo Campari sells Carolans and Irish Mist brands for USD 165.0 million to Heaven Hill Brands

Milan, July 24st, 2017-Gruppo Campari announced today that it has reached an agreement to sell the Carolans and Irish Mist brands to Heaven Hill Brands via the sale of 100% of the share capital of TJ Carolan

& Son Ltd., a wholly owned subsidiary.

The enterprise value is USD 165.0 million (€ 141.7 million at the current exchange rate) on cash free/debt free basis, subject to the customary price adjustment mechanisms. The sold business consists of the Carolans Irish Cream and Irish Mist (Irish Mist Liqueur and Irish Mist Whiskey) trademarks, as well as inventory and production assets.

In the fiscal year ended 31 December 2016 Carolans and Irish Mist achieved total net sales of € 34.0 million and CAAP (Contribution after A&P) of € 16.3 million. The brands' sales represented approximately 2% of Gruppo Campari net sales in FY2016. The United States is the brands' core market, accounting for 70% of the FY2016 net sales. The overall deal consideration corresponds to a CAAP multiple of approx. 9 times.

The closing date of the transaction is expected to be August 1st, 2017.

As part of the transaction and effective from closing, Gruppo Campari and Heaven Hill Brands will enter into a multi-year exclusive distribution agreement, under which Gruppo Campari will continue to distribute the Carolans and Irish Mist brands in the international markets outside the United States.

Carolans and Irish Mist were acquired by Gruppo Campari in 2010 as part of a larger portfolio which also included Frangelico, the key acquisition target. Carolans is the second-largest selling Irish cream whiskey liqueur world-wide. The product is produced in Ireland from the finest Irish ingredients including fresh cream, honey and Irish whiskey. Irish Mist Liqueur, the first liqueur to be produced in Ireland, is a blend of Irish whiskey, honey and natural aromatic spices. Heaven Hill Brands is America's largest independent family-owned and operated distilled spirits company and is headquartered in Bardstown, Kentucky. The company is the overall sixth-largest supplier in the U.S. and has produced and ages the second-largest inventory of Bourbon in the world. Heaven Hill Brands' portfolio is consistently recognized for its stable of industry-leading brands and ongoing innovation.

Bob Kunze-Concewitz, Chief Executive Officer-Gruppo Campari: 'The sale of Carolans and Irish Mist is the largest disposal ever completed by the Group. We are very pleased to sign this transaction with Heaven Hill, a prominent spirits company in the US and a perfect fit for Carolans and Irish Mist. With this transaction, we continue to streamline our non-strategic portfolio and further increase our focus on our priority spirit brands, particularly in our largest and core US market. Moreover, thanks to this disposal, we can further accelerate in the reduction of our financial indebtedness. Since the beginning of 2016 we have divested non-strategic assets for a total value of approximately € 260 million.'

Max L. Shapira, President-Heaven Hill Brands: 'We are delighted to have worked with Gruppo Campari on this acquisition. Carolans and Irish Mist are great historic brands that are highly complementary to our broad portfolio of leading brands. We look forward to building on the strong success these brands have achieved both in the US and around the world.' FOR FURTHER INFORMATION

Investor Relations

Chiara Garavini

Tel. +39 02 6225 330

Email: chiara.garavini@campari.com

Francesco Davico Bonino

Tel. +39 02 6225 689

Email: francesco.davicobonino@campari.com

Elena Tiozzo

Tel. +39 02 6225 290

Email: elena.tiozzo@campari.com

Thomas Fahey

Tel. +44 (0)20 31009618

Email: thomas.fahey@campari.com

Corporate Communications

Enrico Bocedi

Tel. +39 02 6225 680

Email: enrico.bocedi@campari.com

http://www.camparigroup.com/en/investor http://www.camparigroup.com/en http://www.youtube.com/campariofficial https://twitter.com/GruppoCampari


Gruppo Campari is a major player in the global spirits industry, with a portfolio of over 50 premium and super premium brands, spreading across Global, Regional and Local priorities. Global Priorities, the Group's key focus, include Aperol, Appleton Estate, Campari, SKYY, Wild Turkey and Grand Marnier. The Group was founded in 1860 and today is the sixth-largest player worldwide in the premium spirits industry. It has a global distribution reach, trading in over 190 nations around the world with leading positions in Europe and the Americas. The Group's growth strategy aims to combine organic growth through strong brand building and external growth via selective acquisitions of brands and businesses.

Headquartered in Milan, Italy, Campari owns 18 plants worldwide and has its own distribution network in 20 countries. The Group employs approximately 4,000 people. The shares of the parent company Davide Campari-Milano S.p.A. (Reuters CPRI.MI - Bloomberg CPR IM) have been listed on the Italian Stock Exchange since 2001. For more information: www.camparigroup.com/en

Please enjoy our brands responsibly


Founded in 1935, Bardstown, KY-based Heaven Hill Brands (www.heavenhill.com) is America's largest independent, family-owned and operated spirits producer and marketer and has produced and ages the world's second-largest inventory of Kentucky Bourbon. Heaven Hill's diversified portfolio of brands includes Evan Williams Bourbon; Larceny, Elijah Craig and Henry McKenna Bourbons; Deep Eddy Vodka; Burnett's Vodkas and Gin; Admiral Nelson's and Blackheart Rums; HPNOTIQ Liqueur; Carolans Irish Cream Liqueur; The Christian Brothers Brandies; PAMA Pomegranate Liqueur; Domaine de Canton Ginger Liqueur; Lunazul Tequila; and Rittenhouse Rye Whisky.

Heaven Hill encourages you to Think Wisely. Drink Wisely. For further information:

Heaven Hill Brands Contact: Josh Hafer

+1 502 413 0219


Davide Campari - Milano S.p.A. published this content on 24 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 July 2017 09:29:03 UTC.

ę Publicnow 2017
12/01LVMH Unit, Campari Take Full Ownership Of Online Wine Seller Tannico
12/01Campari, LVMH's Moët Hennessy buy 100% of Tannico
12/01LVMH Moët Hennessy - Louis Vuitton, Société Européenne and Davide Campari-Milano N.V. a..
11/11European stock investors on alert for heightened balance sheet stress
10/31Transcript : Davide Campari-Milano N.V., Wilderness Trail Distillery, LLC - M..
10/31Campari To Acquire Wilderness Trail Distillery In $600 Million Deal
10/31Campari Eyes Bourbon Growth as It Buys Kentucky Distillery for Initial $420 Million
10/31Investor Presentation : Wilderness Trail Transaction
10/31Davide Campari-Milano N.V. completed the acquisition of of 70% stake in Wilderness Trai..
10/27Transcript : Davide Campari-Milano N.V., Q3 2022 Earnings Call, Oct 27, 2022
More news
Analyst Recommendations on DAVIDE CAMPARI-MILANO N.V.
More recommendations
Sales 2022 2 689 M 2 836 M 2 836 M
Net income 2022 377 M 398 M 398 M
Net Debt 2022 961 M 1 013 M 1 013 M
P/E ratio 2022 30,0x
Yield 2022 0,69%
Capitalization 11 132 M 11 740 M 11 740 M
EV / Sales 2022 4,50x
EV / Sales 2023 4,08x
Nbr of Employees 4 000
Free-Float 27,2%
Duration : Period :
Davide Campari-Milano N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DAVIDE CAMPARI-MILANO N.V.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 9,92 €
Average target price 11,40 €
Spread / Average Target 14,8%
EPS Revisions
Managers and Directors
Robert Kunze-Concewitz Group Marketing Director
Paolo Rinaldo Marchesini Group Chief Financial Officer
Luca Garavoglia Chairman
Christopher Woods Head-Information Technology
Annalisa Loustau Elia Independent Non-Executive Director